This investment marks the first capital infusion into Blinkit in 2026. Previously, Eternal injected significant funds into the quick commerce unit during 2025 as it accelerated expansion plans. The company invested Rs 500 crore in January, followed by Rs 1,500 crore in February and Rs 600 crore in November, bringing the total investment in the subsidiary last year to Rs 2,600 crore.

The latest funding will primarily support Blinkit’s expansion strategy. Specifically, the company plans to increase the number of dark stores, strengthen working capital, and manage operational expenses while scaling its rapid delivery network across additional Indian cities.

Meanwhile, competition in India’s quick commerce sector continues to intensify as rivals secure large funding rounds to expand their market presence. For instance, Zepto raised $450 million in October last year in a round led by California Public Employees’ Retirement System. Similarly, Swiggy raised around Rs 10,000 crore through a qualified institutional placement in December to strengthen investments in its quick commerce division, Instamart.

Despite remaining in an investment phase, Blinkit’s business performance continues to show strong growth. In the December quarter (Q3FY25), the company recorded revenue of Rs 1,399 crore, reflecting a 117 percent year-on-year increase from Rs 644 crore in the same quarter last year. Additionally, this figure exceeded the Rs 1,156 crore reported in the previous quarter.

However, profitability challenges persist as the company expands its operations. Blinkit reported an adjusted EBITDA loss of Rs 103 crore in Q3FY25, compared with a loss of Rs 89 crore during the same period last year and Rs 8 crore in the previous quarter.

At the same time, demand for rapid delivery services continues to rise. Blinkit’s gross order value (GOV) reached Rs 7,798 crore in the December quarter, compared with Rs 3,542 crore in Q3FY24 and Rs 6,132 crore in the preceding quarter, demonstrating strong momentum in customer orders.

The latest capital infusion also arrives months after leadership changes within the company. Albinder Dhindsa recently assumed the role of Group CEO of Eternal, while Deepinder Goyal stepped down from the position earlier this year. Consequently, the move underscores the growing strategic significance of quick commerce within the group’s broader business operations.

Eternal’s continued investment in Blinkit reflects its commitment to strengthening its quick commerce strategy amid rising industry competition. By expanding infrastructure, scaling dark stores, and supporting operational growth, the company aims to capture increasing consumer demand for ultra-fast deliveries. As competition from major players intensifies, Blinkit’s growth trajectory and sustained funding support will remain crucial in shaping the future dynamics of India’s rapidly evolving quick commerce market.

The funding round values the company at $120 million (₹1,050 crore) and comes just eight months after its $8 million seed round, which saw backing from industry leaders including Binny Bansal, Mukesh Bansal, Lalit Keshre, Ankit Nagori, and Kunal Shah, among others.

Launched in June, FirstClub currently offers packaged foods, bakery, dairy, and nutrition products; has set up four dark stores in Bengaluru; has added 4,000+ SKUs; and has scaled to a 180-member team.

With the latest capital infusion, the startup aims to expand to 35 stores across all Bengaluru pincodes within six months while diversifying into home essentials, kids’ food, pet care, and gifting. It is also testing new models such as subscription deliveries and in-store cafés at dark stores serving food prepared with FirstClub’s own ingredients.

By focusing on premium groceries instead of discounts and 10-minute delivery hype, FirstClub is achieving stronger unit economics.

“We are operating with 2x average order values versus any other platform in this category. Our repeat rates are over 60 percent… and we are also operating with the highest gross margin in the industry,” Ayyappan said.

The same discipline is evident in its dark store model—rather than building dense, high-rent networks to chase faster deliveries, FirstClub keeps a leaner footprint with each store covering several pincodes.

“Instead of having three different stores in three different pincodes, we are operating with one store that services all three, which brings down capex,” Ayyappan said. By offering 30-minute deliveries, the firm is also able to locate stores in lower-rent zones.

The company is planning to fast-track expansion in Bengaluru with slotted deliveries and a subscription offering. “We realized that we can roll out our slotted delivery and subscription models much faster than quick commerce. So that is what we are currently focused on,” he added.

FirstClub’s premium focus hasn’t limited its reach; a notable share of orders originates from budget communities and paying guest facilities, underscoring cross-segment appetite for clean-label groceries, according to Ayyappan.

“FirstClub has demonstrated rare early product-market fit within just three months of launch, building a full-stack platform with category ownership, operational discipline, and strong consumer love,” said Barath Shankar Subramanian, Partner at Accel.

Nishit Garg, Partner at RTP Global, added, “In a world of overwhelming product choices and confusing ingredient labels, FirstClub is closing the trust gap for Indian consumers.”

Ayyappan also said the company has explored acquisition opportunities in adjacent categories but plans to stay focused on organic growth in the near term.

“There are quite a few D2C brands in the categories we are looking to get into that are available from an M&A perspective, and we have had on-and-off conversations. But for the next three months, we do not want to dilute our focus. But that is something we will definitely explore at some point in time,” he said.

As India’s $6 billion quick commerce market races toward a $40 billion future, FirstClub is betting on quality to stand apart. The next six months in Bengaluru, including the festive season, will be a decisive test of its leadership potential.

Founded in Andhra Pradesh, SuperK operates 130 franchise-led stores across over 80 towns, providing affordable groceries and household essentials. The company aims to tap into India’s vast yet underserved grocery retail market, where organized players account for less than 5% of the $600 billion sector—most of which is driven by Tier-II and smaller cities.

The newly raised funds will be used to strengthen hiring across key business areas and to expand SuperK’s presence into new regions and adjacent product categories.

The fundraise reflects renewed investor interest in regional retail ventures that offer strong unit economics and are driven by founder-led execution.

SuperK was founded in 2020 by BITS Pilani alumni Anil Thontepu and Neeraj Menta, both second-time entrepreneurs. Anil previously led product and growth at Kaodim, Hike, and PhonePe, while Neeraj co-founded Hungerbox and developed products at Flipkart and Zeta (Directi).

Currently operational in six cities, AJIO Rush offers over 1.3 lakh product options to customers. The company claims the service delivers stronger unit economics by driving higher average order values and reducing return rates.

“AJIO Rush, a 4-hour delivery service was launched during the quarter and is live in 6 cities with 130k+ options. With faster deliveries, the initiative will further improve customers’ shopping experience on the platform. The initiative is delivering better unit economics driven by higher average bill value and lower returns,” said the company. 

Following the trend, AJIO has mirrored fashion ecommerce leader Myntra, which started piloting 30-minute to 2-hour product deliveries last year. The move also comes amid a surge of new-age fashion quick commerce startups like Slikk, NEWME, and KNOT, who are reshaping the fast-fashion delivery landscape.

However, Reliance Retail has not disclosed the specific contribution of its digital and new commerce segments to the company’s total revenue in Q1 FY26.

Overall, Reliance Retail reported a 28.3% jump in net profit to INR 3,271 Cr for the quarter under review, compared to INR 2,549 Cr in Q1 FY25. Revenue from operations also rose 11.3%, reaching INR 73,720 Cr in Q1 FY26 versus INR 66,260 Cr in the same period last year.

With the launch of its quick fashion delivery service, AJIO reported that revenue from new customers surpassed 18%, marking a 150-basis-point increase year-on-year (YoY). The marketplace also expanded its product catalogue to over 2.6 million items, reflecting a 44% YoY growth.

On the grocery front, JioMart recorded a 68% sequential and 175% YoY jump in quick delivery orders during Q1 FY26. The platform, which offers 30-minute deliveries, has scaled its hyperlocal quick commerce network to 2,200+ stores across 1,000+ cities.

It was also a robust quarter for Reliance Industries Ltd’s (RIL) digital streaming vertical. JioHotstar attracted over 460 million monthly active users (MAUs) in Q1 FY26, driven largely by IPL viewership. Additionally, downloads of the JioHotstar app surpassed 1.04 billion on Android devices during the period.

Meanwhile, Jio Platforms’ consolidated net profit rose 25% to INR 7,110 Cr in Q1 FY26, compared to INR 5,698 Cr in the same quarter last year, while operating revenue climbed 19% to INR 35,032 Cr, up from INR 29,449 Cr in Q1 FY25.

Overall, RIL’s operating revenue grew 5% YoY to INR 2.48 lakh Cr, while net profit surged 76% YoY to INR 30,681 Cr, boosted by a one-time gain of over INR 8,900 Cr from a stake sale in Asian Paints.

Reliance is doubling down on quick commerce across categories—from AJIO Rush’s four-hour fashion deliveries to JioMart’s 30-minute grocery service—while strengthening its digital ecosystem with JioHotstar and Jio Platforms. Backed by strong revenue growth, expanding customer acquisition, and strategic scaling, RIL’s diversified retail and digital ventures are positioning the conglomerate as a dominant force in India’s evolving ecommerce and streaming markets.