Accel-Led Funding Raises FirstClub Valuation To $120M

FirstClub, a Bengaluru-based quick-commerce startup founded in June 2025 by former Flipkart and Cleartrip executive Ayyappan R, has raised $23 million in a Series A funding round led by Accel and RTP Global, pushing its valuation to $120 million. The company differentiates itself from competitors by focusing on a 'quality-first' model, offering curated, high-quality products including food, fresh produce, dairy, bakery, FMCG, and nutrition, with 95% sourced locally in India. FirstClub operates four dark stores in Bengaluru and plans to expand to 35 stores within six months, with future plans to introduce cafes, daily subscriptions, and new product lines such as pet care and nutraceuticals. The startup aims to cater to the growing mid-premium segment in Indian retail, targeting 20 to 30 million households seeking quality at a fair price rather than niche luxury consumers. The funding round included both equity and a small debt component, with participation from existing investors like Blume Ventures and new investors such as Paramark Ventures and Aditya Birla Ventures. FirstClub’s rapid growth and repeat funding rounds highlight its solid market traction amid increasing competition in India's quick commerce space.