CMS INDUSLAW, Khaitan & Co act on FirstClub $55 million Series B fundraise

Firstclub Technology Private Limited has raised $55 million from a Series B fundraise co-led by Peak XV Partners and Sofina, with participation from existing investors Accel, RTP Global and Paramark Ventures.

CMS INDUSLAW advised FirstClub on this fundraise.

The transaction team consisted of Winnie Shekhar (Partner), Tushar Gogoi (Principal Associate), Chandresh Goyal (Senior Associate) and Mahak Agarwal (Associate).

Khaitan & Co advised lead investors Peak XV Partners and Sofina on this fundraise. The Firm's role included conducting due diligence exercise on Firstclub; reviewing and negotiating the transaction documents; and execution and closing related aspects of the transaction which, inter alia, included the review of documents in relation to the conditions precedent and closing, as well as tracking the completion of the conditions precedent.

The core transaction team comprised of Bharat Anand (Senior Partner), Nidhi Killawala (Partner), Ayushi Mishra (Counsel), Sakshi Garg (Associate) and Anannya Wal (Associate).

Nirupam Lodha (Partner), Shivangi Narang (Principal Associate) and Palak Dwivedi (Associate) advised on the IP aspects of the due diligence.

Abhinav Rastogi (Partner) advised on the employment aspects of the due diligence.

Pranjal Prateek (Partner) and Armaan Gupta (Principal Associate) advised on the competition law aspects of the transaction.

FirstClub is a Bengaluru-based premium grocery and quick commerce platform. The company will use the funds for expansion and continue investing in its supply chain, technology and category expansion initiatives.

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