Ayyappan R's FirstClub doubles valuation to $255 million on curated grocery bet
The Bengaluru grocery startup raised $55 million from Peak XV, Sofina and existing backers as it expands in Bengaluru and Hyderabad.
By Ryan Merket · Published
Primary source: TechCrunch
Why it matters
FirstClub's new valuation suggests investors are still willing to fund differentiated quick-commerce models in India, but its quality claims now have to survive city-by-city scaling.
Ayyappan R's FirstClub has raised $55 million in Series B funding at a $255 million post-money valuation, TechCrunch reported, nine months after its last funding round. The former Flipkart executive launched the Bengaluru grocery startup around a simple wager: not every online grocery customer is shopping only for speed.…