FirstClub Bags $23 Mn To Open Dark Stores, Launch Cafes

Quick commerce platform FirstClub has raised $23 Mn (around INR 203 Cr) in its Series A round co-led by existing backers Accel and RTP Global at a valuation of $120 Mn (INR 1,050 Cr).

The round also saw participation from existing investors Blume and 2am VC as well as Paramark Ventures and Aditya Birla Ventures. The startup last raised $8 Mn in its seed round in December last year. 

The startup plans to utilise the fresh capital to fuel expansion, add 35 new dark stores to its kitty in the next six months and launch multiple fulfilment formats such as cafés and daily subscriptions. 

A chunk of the capital will also be deployed to ramp up hiring across engineering, operations, category and marketing. As part of its expansion, the startup also plans to expand into new categories such as kids’ food, pet food, nutraceuticals, home care, gifting and furnishings in partnership with local and global brands. 

“… Our early momentum – with 2X average order values versus any other platform in the category, 60% exclusive products, and high repeat rates – shows that India is ready for a new standard in retail,” said FirstClub founder and CEO Ayyappan R. 

Founded in 2024 by former Cleartrip CEO Ayyappan, FirstClub claims to be building a member-first quick commerce platform focussed on premium products. It claims to offer more than 4,000 SKUs across packaged foods, fresh produce, bakery, dairy, and nutrition.

Since its official launch in Bengaluru in June 2025, FirstClub has operationalised four dark stores in the city and employs a 185-member team. In a statement, the company said that it plans to open more fulfillment centres in the next eight weeks to service all of Bengaluru before Diwali.

The latest fundraise comes amid rising investor interest in the quick commerce space. With growing demand and rising disposable incomes, the sector is maturing rapidly, and instant gratification is no longer limited to groceries or food items.

As a result, several startups have emerged in the sector and have raised hefty rounds. In July, quick fashion startup KNOT raised $3 Mn in a round led by Kae Capital. Prior to this in June, another fashion-focussed quick delivery platform ZILO bagged $4.5 Mn in a seed round co-led by Info Edge Ventures and Chiratae Ventures. 

At the heart of all this is the growing Indian quick commerce market, which, as per Inc42, is projected to become a $40 Bn opportunity by 2030.