New Delhi, June 4 -- FirstClub, a premium quick commerce startup, has raised $55 million in its Series B round of funding from investors led by Peak XV Partners and Sofina Ventures, the company's top executive said. Existing investors Accel, RTP Global and Paramark Ventures doubled down in the new round.

The fresh infusion was only in primary capital, with no secondary transactions, and more than doubled the company's valuation to $255 million from $120 million when it raised $23 million in its Series A round in September.

FirstClub is improving its supply chain infrastructure and expanding its product categories, betting that a meaningful slice of India's urban households will pay a modest premium for curated, quality-verified grocerie...