FirstClub Raises $55M in Series B Led by Peak XV, Sofina

FirstClub, a curated online grocery startup, has raised $55 million in a Series B funding round led by Peak XV Partners and Sofina. Existing institutional investors such as Accel, RTP Global, and Paramark Ventures also participated in the round. The startup's post-money valuation is now at $255 million, which is well over 2X its valuation at the time of the fundraise about 10 months ago. FirstClub was founded in September 2024 by former Flipkart executive and Cleartrip CEO Ayyappan R. The startup focuses on consumer trust, rigorous ingredient bans, and lab-assayed freshness, offering a smaller and efficient inventory targeted at health-oriented consumers and families. FirstClub reports an average basket size of roughly 1,200 Indian Rupees ($14.40 USD), with customers routinely clearing ten or eleven items per checkout. The startup plans to channel the newly acquired $55 million toward warehouse infrastructure, fulfilment technology, and expanding its clubhouses to 35 centres by year-end, as well as introducing new categories such as beauty and personal care, domestic essentials, kitchenware, and pet care supplies.