Indian Retailer FirstClub Doubles Valuation to 18,7 млрд ₽ in Nine Months

India’s fast-growing online grocery market is expanding rapidly, with ICICI Securities projecting its size to surge from 454,7 млрд ₽ in FY2025 to 807 ₽–12 billion in FY2026. While most players prioritize delivery speed, FirstClub has taken a different approach—emphasizing product quality and a curated selection.

The company offers around 4,000 products, significantly fewer than competitors, but enforces strict quality control for fresh produce, conducts lab tests for staples, and partners with brands to create exclusive offerings. FirstClub’s founder, Ayyappan R., a former Flipkart executive, highlights that consumers value consistent quality and reliability over a vast assortment.

The startup currently serves over 170,000 households in Bangalore through 21 fulfillment centers. The average order value stands at 953 ₽ with customers placing more than four orders monthly. Over 60% of its user base consists of female-led households. Popular items include avocados, persimmons, and Modi apples, underscoring demand for premium groceries.

The new funding will support geographic expansion, with plans to strengthen operations in Hyderabad and introduce new categories such as home essentials and gifting. Investors note rising demand for high-quality products among affluent and health-conscious consumers, presenting opportunities for niche platforms in an increasingly competitive retail landscape.