FirstClub Raises $23 Million in Series A Round Led by Accel, Paramark Ventures, and Aditya Birla Ventures to Scale Premium Quick Commerce Model

Bengaluru-based quick commerce startup FirstClub has secured $23 million in a Series A funding round led by Accel and RTP Global, with participation from existing investors Blume Ventures and 2am VC, and new backers Paramark Ventures and Aditya Birla Ventures. The round, comprising 90% equity and 10% debt, values the company at $120 million (approximately ₹1,050 crore), tripling its valuation just eight months after its $8 million seed round.

Founded by Flipkart veteran and former Cleartrip CEO Ayyappan Rajagopal, FirstClub launched operations in June 2025 with a differentiated approach to quick commerce, focusing on premium groceries, curated product selection, and a slower but leaner dark store model. The startup currently operates four dark stores—branded as “clubhouses”—in Bengaluru and plans to expand to 35 stores within six months.

🧭 Funding Round Overview

The funds will be deployed to expand FirstClub’s footprint across Bengaluru, roll out new formats like cafés and subscription deliveries, onboard new categories, hire talent, and invest in brand building.

🔍 FirstClub’s Differentiated Strategy in Quick Commerce

Unlike competitors chasing scale through 10-minute delivery and aggressive discounting, FirstClub is positioning itself as the “Costco for India,” targeting the top 10% of Indian households with premium products and curated experiences. The platform offers a mix of private labels and brand partnerships, delivering fresh, high-quality items within 30 minutes.

Founder Ayyappan R stated that FirstClub’s early traction has been “solid,” with strong metrics across the funnel, including repeat orders and customer stickiness.

📉 Market Landscape and Competitive Positioning

India’s quick commerce market is projected to contribute ₹14,010 crore in net order value during the festive season, as part of a broader ₹1.2 lakh crore e-commerce boom. FirstClub competes with established players like Blinkit, Swiggy Instamart, and Zepto but differentiates itself through quality, trust, and category ownership.

The startup’s focus on quality over speed is resonating with urban consumers seeking healthier, more reliable options.

🔥 Expansion Plans and New Categories

With the fresh capital, FirstClub plans to scale its operations aggressively across Bengaluru and enter new categories such as kids’ food, pet care, nutraceuticals, home care, gifting, and furnishings. The company is also experimenting with café formats inside dark stores, offering food made from its own ingredients.

Ayyappan said the company aims to be serviceable across all Bengaluru pincodes before Diwali, anticipating high demand during the festive season.

🧠 Expert Commentary and Investor Sentiment

Investors believe FirstClub’s disciplined approach and strong early metrics position it for sustainable growth in a crowded market.

📌 Conclusion

FirstClub’s $23 million Series A funding round marks a significant milestone in its journey to redefine quick commerce in India. With backing from marquee investors like Accel, Paramark Ventures, and Aditya Birla Ventures, the startup is poised to scale its premium grocery model, expand into new categories, and deepen its presence in Bengaluru. As consumer preferences shift toward quality and trust, FirstClub’s curated approach and operational discipline could set a new benchmark in India’s fast-evolving e-commerce landscape.

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Disclaimer: This article is based on publicly available investor statements and media reports as of September 4, 2025. It is intended for informational purposes only and does not constitute financial, investment, or strategic advice.