FirstClub Technology Pvt. Ltd., a premium, member-only retail platform founded by industry veteran Ayyappan R, has successfully raised $8 million in a seed funding round. The investment was led by global venture capital firms Accel and RTP Global, with additional participation from notable investors such as Blume Founders Fund, Quiet Capital, and 2am VC.
Prominent 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), also contributed to the funding round.
A Vision for Premium Shopping in India
FirstClub, the brainchild of Ayyappan R—former Senior Vice President at Flipkart, Chief Business Officer at Myntra, and CEO of Cleartrip—is on a mission to redefine the shopping experience for quality-conscious Indian consumers.
The platform aims to provide a curated selection of mass-premium products across categories such as food, FMCG, bakery, dairy, and health. By combining quick commerce, e-commerce, and offline retail experiences, FirstClub envisions creating a seamless, omnichannel shopping journey tailored to modern Indian lifestyles.
Ayyappan R elaborated on the startup’s vision, stating,
“India is often seen as a mass-market economy, but the time has come to unlock demand by providing access to high-quality, premium products at the right price. Our goal is to create a trusted platform that brings together the best of Indian regional specialties, international gourmet products, and innovative D2C brands. India deserves better, and we’re here to empower Indian consumers, ensuring they never have to settle for less but instead can enjoy the very best.”
Deployment of Funds
The newly raised capital will be utilized to:
- Build a robust technology infrastructure.
- Develop a seamless omnichannel retail strategy.
- Expand the platform’s product offerings to cater to premium markets.
- Recruit top-tier talent across critical business functions.
The startup is currently in the development phase and plans to launch its full platform by mid-2025, according to an official release.
Investors Backing FirstClub
The participation of globally recognized venture capital firms and high-profile angel investors underscores the confidence in FirstClub’s innovative model. Accel and RTP Global, known for backing disruptive startups, expressed optimism about FirstClub’s ability to cater to India’s growing demand for premium products.
Ayyappan R remarked on the significance of investor support,
“With the backing of Accel, RTP Global, and other investors, we are excited to bring this concept to life and create a platform that celebrates the best of India and the world.”
