Accel and RTP Global led the $23 million Series A funding round for the quick-commerce startup FirstClub, which also included Blume Founders Fund, 2am VC, Paramark Ventures, and Aditya Birla Ventures. There is also a minor debt component to the round, according to media reports.
The company is now valued at $120 million, nearly three times what it was in December 2024 when it raised $8 million from Accel and RTP Global in its seed round.
Key Highlights
- FirstClub raises $23 million in Series A round led by Accel and RTP Global at $120 million valuation.
- Approximately 90% of the round was equity-based, with the balance structured as debt financing.
The money raised will go toward developing new product lines, opening more locations, and growing the business.
FirstClub was founded in June 2025 by Ayyappan R, a former Flipkart executive, and operates on a quality-first philosophy.
FirstClub focuses on selling only high-quality products, in contrast to competitors like Blinkit, Zepto, and Swiggy Instamart that compete on delivery speed.
Food, fresh produce, dairy, baked goods, FMCG, and nutrition are all included in the product basket. Five percent are imported, and the remaining ninety-five percent are sourced locally in India. It sells its own private-label products as well. In the future, it intends to offer subscription services, home care, kids' food, pet care, and nutraceuticals.
Also Read: Tuco Kids Secures $4 Mn Funding Round from RTP Global
In Bengaluru, FirstClub currently runs four dark stores. In six months, it hopes to reach every pincode in the city and expand to 35 stores.
Although there were many consecutive rounds during the 2021–22 boom, FirstClub is one of the few that is currently repeating the pattern, raising two rounds in nine months. Earlier this year, Slikk accomplished the same thing in two months.
