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Quick commerce startup FirstClub has raised $23 million in a funding round led by venture capital firms Accel and RTP Global, who had also co-led the previous round. Following this funding round, which was about 90% equity and the rest debt, the company’s valuation now stands at $120 million.
Existing investors Blume Ventures and 2am VC doubled down in this round, which also drew new backers Paramark Ventures and Aditya Birla Ventures.
The company plans to deploy the funds towards opening new dark stores in Bengaluru, rolling out formats like cafes…
