Bengaluru-based e-commerce startup FirstClub has raised $23 million in Series A funding at a $120 million post-money valuation, tripling its value just three months after launch. The round, led by Accel and RTP Global, with participation from Blume Founders Fund, 2am VC, Paramark Ventures, and Aditya Birla Ventures, comes only eight months after FirstClub’s $8 million seed round.
Unlike India’s quick-commerce rivals focused on 10-minute grocery deliveries, FirstClub targets the top 10% of households with a curated selection of premium products. Operating four dark stores, or “clubhouses,” in Bengaluru, it offers over 4,000 items across fresh produce, packaged foods, dairy, bakery, and nutrition.
CEO Ayyappan R, a Flipkart veteran, says customers are willing to wait longer for exclusive, high-quality products, with 60% of its catalog unavailable elsewhere. The startup reports an average order value of ₹1,050 ($12), about double that of major quick-commerce players, and a 60% repeat purchase rate.
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With the new funding, FirstClub plans to expand to 35 clubhouses in Bengaluru, launch cafes and new categories like pet food, children’s nutrition, and home goods, and eventually enter more Indian cities.
