FirstClub, an omnichannel retail startup founded by former Flipkart executive Ayyappan R, has raised $8 million in its seed funding round.
The funding round was led by Accel and RTP Global, with participation from Blume Founders Fund, Quiet Capital, 2am VC, and notable angel investors, including Binny Bansal (Flipkart), Kunal Shah (CRED), Mukesh Bansal (Myntra, Cult), Lalit Keshre (Groww), Ankit Nagori (Eatfit), and Shrenik Ghodawat (Sanjay Ghodawat Group).
The startup plans to utilize the funds to establish dark stores in Bengaluru initially, followed by expansion with experience centers.
With this funding, FirstClub will focus on building robust technology infrastructure, refining its omnichannel retail strategy, hiring talent for key functions, and broadening its product offerings.
Positioned as an omnichannel retailer, FirstClub aims to provide high-quality products across categories such as fresh fruits and vegetables, dairy, bakery, nutrition supplements, and health and fitness.
The platform, expected to launch by mid-2025, promises a seamless shopping experience with delivery timelines of under 30 minutes.
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Ayyappan R, previously the Chief Business Officer at Myntra, sees FirstClub as a market creation opportunity amidst the competitive quick commerce sector.
The company plans to differentiate itself by building supply chains close to manufacturers, enabling affordable pricing for premium products.
FirstClub is set to compete with quick commerce platforms like Swiggy’s Handpicked and premium offline retailers like FoodHall and Nature’s Basket.
