Former Flipkart exec’s quick comm startup FirstClub raises $23 million; valuation jumps to $120 million

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.