FirstClub, the most recent business endeavor of Ayyappan R, a former executive at Flipkart, has raised $8 million from Accel and RTP Global in its seed round.
In addition, angel investors Binny Bansal (Flipkart), Kunal Shah (CRED), Mukesh Bansal (Myntra, Cult), Lalit Keshre (Groww), Ankit Nagori (Eatfit), and Shrenik Ghodawat (Sanjay Ghodawat Group) along with Blume Founders Fund, Quiet Capital, and 2am VC participated in the round.
The money raised will be used to open a few dark shops in Bengaluru, with plans to add experience centers later. Additionally, it will increase the platform’s product offerings, improve its omnichannel retail strategy, develop its technological infrastructure, and hire personnel for key roles.
FirstClub is an omnichannel retailer that strives to provide premium goods in the areas of dairy, baked goods, fresh produce, nutrition supplements, and fitness and health. By the middle of 2025, FirstClub’s platform is anticipated to be operational, providing premium goods with less than 30-minute commerce delivery times.
In addition to physical retailers like FoodHall and Nature’s Basket, the startup is expected to face competition from services like Swiggy’s Handpicked.
