FirstClub Secures $55 Million in Funding from Peak XV, Sofina, and Other Investors 9 Months After $22 Million Series A Round

FirstClub Secures $55 Million in Series B Funding, Valuing Company at $255 Million

Bengaluru-based premium grocery and quick commerce startup FirstClub has raised $55 million in a Series B funding round co-led by Peak XV Partners and Sofina, valuing the company at $255 million post-investment. This latest round of funding takes FirstClub's total funding to $86 million.

Existing investors Accel, RTP Global, and Paramark Ventures also participated in the round. The company plans to use the fresh capital to expand beyond Bengaluru, where it currently operates 21 stores, deepen its presence in Hyderabad, where it recently launched with three locations, and continue investing in its supply chain, technology, and category expansion initiatives.

The fundraising comes nine months after FirstClub raised a $22 million Series A round and marks a significant jump in valuation from the $120 million it was valued at during its previous fundraise in September 2025. Founded by former Flipkart executive Ayyappan R, FirstClub operates a premium grocery platform focused on fresh produce, staples, and clean-label products.

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In about nine months since beginning full-scale operations, FirstClub has delivered more than 1.2 million orders, sold over 15 million units, and served more than 200,000 customers. The company has previously said its average order value stands at around Rs 1,500 and that it has recorded strong growth over the past two quarters.

The company currently operates through a network of stores in Bengaluru and Hyderabad and plans to expand its footprint further as it scales operations. FirstClub is also looking to broaden its assortment across categories including home products, kids' food, pet care, and gifting, while exploring adjacent offerings such as subscription-based services and experiential retail formats. The latest round underscores continued investor appetite for differentiated commerce businesses, particularly those focused on premiumisation and customer experience rather than competing solely on delivery speed.