FirstClub, the latest venture of former Flipkart executive Ayyappan R, has raised $8 million in its seed round from Accel and RTP Global.
The round also saw participation from Blume Founders Fund, Quiet Capital, 2am VC, and 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 proceeds will be used to set up a few dark stores in Bengaluru and then later plans to expand with experience centers. It will also build its technology infrastructure, refine an omnichannel retail strategy, add talent for critical functions, and expand the platform’s product offerings.
FirstClub is an omnichannel retailer that looks to offer high-quality products in fresh fruits and vegetables, dairy, bakery, nutrition supplements, and health and fitness. Through its platform, expected to go live by the middle of the calendar year 2025, FirstClub will offer high-quality products within quick commerce delivery timelines of under 30 minutes.
The startup is set to compete with services like Swiggy’s Handpicked as well as offline retailers such as FoodHall and Nature’s Basket.
Source: Entrackr : Latest Posts