Former Cleartrip CEO Ayyappan R's FirstClub raises $8 million in funding

FirstClub Technology Pvt. Ltd., the brainchild of Ayyappan R, has raised $8 million in a seed funding round led by Accel and RTP Global.

The funding round also saw participation from Blume Founders Fund, Quiet Capital, 2am VC and 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).

Ayyappan R is a former Senior Vice President at Flipkart, Chief Business Officer at Myntra, and CEO of Cleartrip.

Focused on transforming the omnichannel retail in India

FirstClub is a premium, member-only retail platform designed to redefine shopping experiences for quality-conscious Indian consumers.

The platform will initially offer a curated selection of mass-premium products across categories such as food, FMCG, bakery, dairy, and health. It combines quick commerce, e-commerce, and offline experiences to create a seamless, omnichannel shopping journey.

Purpose of fundraising

The startu plans to use the raised cpaital to build its technology infrastructure, refine an omnichannel retail strategy, onboard top-tier talent across critical functions, and expand the platform’s product offerings.

The full platform is set to go live by mid-2025, the release notes.

“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,” said Ayyappan R, Founder of FirstClub.

 “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.”

Investors comment

Barath Shankar Subramanian, Partner at Accel, said: "FirstClub is reimagining the retail experience for India’s consumers by addressing their growing demand for premium products and services. By focusing on unparalleled quality, convenience and trust, Ayyappan and his team are redefining what modern retail can deliver. With Ayyappan’s leadership and deep operational expertise, we’re excited to partner with FirstClub as they shape the next phase of retail for a rapidly evolving market.”

Nishit Garg, Partner at RTP Global, said: “At RTP Global, we have always believed in backing exceptional entrepreneurs who bring not just vision, but also the resilience and deep market understanding that comes from hands-on operational experience. Ayyappan is a prime example of this, leveraging his extensive background as an operator to craft a business that directly addresses evolving consumer needs. With FirstClub, he is pioneering a new approach to retail and we are excited to partner with him on this journey.”