FirstClub Technology, a member-exclusive retail platform, has successfully raised $8 million in a seed funding round led by Accel and RTP Global. This funding marks a significant milestone for the company as it prepares to redefine India’s retail landscape by focusing on premium products and a seamless omnichannel experience.
Backing from industry leaders
The funding round also saw participation from prominent investors, including Blume Founders Fund, Quiet Capital, and 2am VC. Esteemed angel investors such as Flipkart’s Binny Bansal, CRED’s Kunal Shah, Mukesh Bansal of Myntra and Cult, Lalit Keshre of Groww, Ankit Nagori of Eatfit, and Shrenik Ghodawat of the Sanjay Ghodawat Group further emphasized their confidence in FirstClub’s vision.
Founded by Ayyappan R, a seasoned leader with a proven track record at Flipkart, Myntra, and Cleartrip, FirstClub aims to transform the way Indian consumers shop for premium goods.
Accelerating growth with strategic investments
The newly raised funds will be directed towards building advanced technology infrastructure, refining an omnichannel retail strategy, onboarding top-tier talent, and expanding the platform’s product offerings. The full platform launch is scheduled for mid-2025, with an initial focus on packaged foods, fresh produce, bakery items, dairy products, nutrition, and supplements.
“Our goal is to create a trusted platform that bridges the gap between mass-market and premium retail,” said Ayyappan R, founder of FirstClub. “By combining Indian regional specialties, international gourmet products, and innovative D2C brands, we aim to unlock demand and provide consumers with high-quality products at the right price.”
Redefining India’s retail landscape
FirstClub is set to establish itself as a quick commerce-first omnichannel retailer, blending offline experience stores with a robust digital presence. The strategy aims to cater to India’s growing demand for premium products while offering brands a unique opportunity to connect with affluent households.
Barath Shankar Subramanian, Partner at Accel, remarked, “FirstClub is reimagining retail for India’s consumers. With Ayyappan’s leadership and operational expertise, we’re excited to support this journey.”
Nishit Garg, Partner at RTP Global, added, “Ayyappan’s extensive experience and resilience are shaping a business that addresses evolving consumer needs. We are thrilled to back FirstClub in pioneering a new retail model.”
Paving the way for India’s premium retail growth
With a focus on quality and innovation, FirstClub is poised to meet the aspirations of India’s upwardly mobile consumers. This seed funding round is a testament to the growing potential of India’s premium retail segment, setting the stage for robust economic growth in the sector.
