FirstClub, a quick commerce startup in India, has secured as much as $55 million (around Rs 512 crore) in Series B funding, led by Peak XV Partners and Sofina, per an announcement.
The round also saw participation from existing investors Accel, RTP Global, and Paramark Ventures.
The startup, established in 2024, is looking to deploy the fresh capital to ramp up its operations in new cities and strengthen its grocery ecosystem by adding categories such as beauty and personal care, home essentials, and pet care.
FirstClub last raised $23 million in a Series A funding round in September 2025. That round was led by Accel and RTP Global, with participation from Blume Founders Fund, 2am VC, Paramark Ventures, and Aditya Birla Ventures.
Before that, Accel and RTP Global backed the company’s $8 million seed funding round in December 2024.
Currently, FirstClub operates four dark stores in Bengaluru, where it is headquartered, and plans to increase the count to 35 by the end of this year.
India’s quick commerce sector continues to witness intense activity, driven by growing consumer demand for rapid deliveries and increasing adoption of online grocery and essentials shopping.
Prominent players in the segment include Swiggy’s Instamart, Zomato-owned Blinkit, and Zepto, all of which promise delivery of groceries and daily essentials within minutes.
Competition in the sector remains fierce, with companies offering deep discounts and incentives to acquire and retain customers, often at the expense of profitability. What continues to attract investment is the significant growth potential of the market. India’s quick commerce user penetration rate is projected to rise to 3.8% by 2028 from 1.8% in 2024.
While Zomato and Swiggy are listed companies, Zepto is reported to have received in-principle approval from India’s capital markets regulator to proceed with its initial public offering (IPO).
