New Delhi, June 4 -- FirstClub, a quick-commerce startup set up by former Flipkart executive Ayyappan R, has pocketed $55 million (Rs 512 Crore) in a Series B funding round led by domestic venture capital firm Peak XV Partners and Belgium-based investment firm Sofina.
Existing investors Accel, RTP Global and Paramark Ventures also participated in the round, the Bengaluru-headquartered company said in a statement. It added that its valuation has more than doubled to $255 million after the transaction.
The round comes nine months after FirstClub secured $23 million in a Series A round in September last year, reflecting strong investor interest. Co-led by returning investors Accel and RTP Global, the funding round valued the startup at $120 million at the time. It had closed an $8 million seed round in December 2024.
"The first wave of quick commerce was built for speed. FirstClub is building for trust. With an explosion of D2C (direct-to-consumer) brands, customers need a neutral platform that curates for quality. Firstclub's rapid growth and very high customer retention shows the consumer love that they have been able to build on the back of transparency, quality, and product standards," said GV Ravishankar, managing director at Peak XV Partners.
FirstClub, founded in 2024, started its operations in 2025. It works as a member-first quick commerce platform that works with brands and manufacturers to deliver high-quality, affordable and curated products in less than 30 mins, helping consumers avoid choice fatigue and save time.
"When quick commerce was racing to deliver in 5 minutes and 10 minutes, we asked a harder question: is what's inside actually safe for your family? For our customers, quality comes first, especially when it comes to the food they give their families - not just speed," said Ayyappan R, founder of FirstClub. "This fundraise takes that commitment to millions of households who have always deserved better."
The startup plans to use the capital to expand into new cities, strengthen its grocery ecosystem and introduce new categories such as beauty and personal care, home essentials, and pet care. It will also deepen its technology and supply chain capabilities.
White it started its offering in Bengaluru, the company has also started offering its services in Hyderabad recently. It claims to have crossed 1 million orders in less than a year of its operations.
The company says it tests fruits for sweetness and quality-checks vegetables for blemishes, bruises, and smudges before listing those products on the app. It says it also conducts rigorous lab testing across everyday items such as milk, atta, paneer, dals, and more to ensure the highest standards of quality, purity, and consistency. The startup has banned over 200 harmful ingredients on its platform.
Published by HT Digital Content Services with permission from VC Circle.