FirstClub, a Bengaluru quick-commerce grocery service, raised a $55m Series B at a $255m post-money valuation, according to TechCrunch. Peak XV Partners and Sofina co-led the round, and existing investors Accel, RTP Global and Paramark Ventures took part. Venture Intelligence, citing Mint, reported the round on 4 June 2026.
The valuation is up from $120m at the company's previous round in September 2025, nine months earlier. Total funding is now $86m, TechCrunch reported. Both reports describe the round as co-led by Peak XV and Sofina.
“There will be a specific set of consumers who gravitate toward a better-quality platform.”GV Ravishankar, Managing Director, Peak XV Partners
What FirstClub does
FirstClub was founded in 2024 by Ayyappan R, a former Flipkart executive. It delivers a curated range of about 4,000 products, roughly a third of what rivals stock, and says it checks the quality of fresh produce, lab-tests some staples and develops exclusive products with brands. Best sellers include avocados, persimmons and Modi apples.
TechCrunch reported that the company has about 220 direct employees and runs 21 stores in Bengaluru. It recently launched in Hyderabad with three locations.
TechCrunch also said that FirstClub's assortment is about a third the size of rivals', with top sellers including avocados and persimmons.
Traction the company reports
Within a year of launching, FirstClub says it has delivered more than 1 million orders and acquired 170,000 households. TechCrunch put annualised gross market value at about $50m. Customers place more than four orders a month on average and spend about ₹1,200 (about $13) per order, and more than 60% of customers are women-led households. These are figures from the company.
India's quick-commerce market grew from about $6.2bn in fiscal 2025 to an estimated $11bn to $12bn in fiscal 2026, TechCrunch reported, citing an ICICI Securities report.
What the money is for
FirstClub said the funds will strengthen its supply chain, cold-chain integrity, quality-testing protocols and demand forecasting, according to Venture Intelligence. TechCrunch said it will expand beyond Bengaluru, deepen its presence in Hyderabad and add categories such as home and kitchen, gifting and other household essentials.
Ayyappan said the aim is the right quality selection, consistently delivered every single time. GV Ravishankar, managing director at Peak XV, said, "There will be a specific set of consumers who gravitate toward a better-quality platform."
Neither report named the new cities beyond Hyderabad, gave a revenue figure or said when the company expects to break even. Venture Intelligence's article did not carry quotes from the founder or the investors.
The funding so far
Venture Intelligence reported that FirstClub raised about $33m between December 2024 and January 2026 from investors including 2AM Ventures, Accel India, Blume Ventures, Mehta Equities, Quiet Capital, RTP Global, Aditya Birla Ventures, Paramark Ventures and Alteria Capital. TechCrunch dated the round before this one to September 2025.
The two reports do not reconcile exactly: Venture Intelligence's figures sum to about $88m with this round, while TechCrunch gives $86m, which is the total used here.
Company website: firstclub.site