Firi Raises $3M From 360 ONE Asset, Kunal Shah

Gurugram-based beauty quick commerce startup Firi raises $3 million in a seed funding round led by 360 ONE Asset. Better Capital, CRED founder Kunal Shah and a group of angel investors also joined the round.

The company plans to use the capital to move beyond skincare into makeup and fragrances. It will also open more dark stores in Gurugram before expanding to other cities.

Firi Seed Funding at a Glance

Here is a quick summary of Firi’s seed funding round:

Amount: $3 million (seed round)
Lead investor: 360 ONE Asset
Other investors: Better Capital, Kunal Shah and angel investors
Headquarters: Gurugram
Founders: Vivek Madani and Karishma Rathaur
Delivery time: As little as nine minutes in parts of Gurugram
Use of funds: New beauty categories and two more dark stores

What Is Firi?

Firi is a Gurugram-based beauty quick commerce platform that delivers curated skincare, haircare and body care products in as little as nine minutes. It uses AI to research products through reviews, online discussions, video reviews and ingredient lists before adding them to its catalogue.

The startup ran a pilot in January 2026. It moved to full operations this September, shortly before announcing the round.

How Firi Will Use the $3 Million

Firi will put the $3 million toward two priorities: a wider catalogue and a denser store network. Makeup, fragrances and other beauty categories come next. On the supply side, Firi plans to add two more dark stores in Gurugram, and it will enter new cities only after it deepens its presence there.

That order of steps matters. In quick commerce, speed depends on how close the stock sits to the customer. Getting one city right before scaling is a sensible move at the seed stage, and it keeps cash burn under control. “The funding was first reported by The Economic Times.”

AI Product Curation: Firi’s Core Bet

Most beauty platforms compete on how many products they list. Firi takes the opposite approach and uses AI product curation to keep its catalogue small.

The company says it has analysed more than 50 million reviews. From an estimated 300,000 beauty products worldwide, it has shortlisted about 3,000. That is roughly 1% of the market.

“Firi focusses on high quality products that people buy on repeat, irrespective of price,” co-founder Vivek Madani said.

Nine-Minute Beauty Delivery in Gurugram

A tight catalogue also helps operations. Fewer products mean smaller dark stores, faster picking and less unsold stock. Firi currently offers nine-minute beauty delivery in parts of Gurugram, which puts it in the same range as the fastest grocery apps.

Founders Vivek Madani and Karishma Rathaur Bring Uber India Experience

Firi was founded by Vivek Madani and Karishma Rathaur, both former Uber India executives. Before Firi, the pair built Honestly, an AI-powered beauty search and discovery platform.

Firi combines both experiences. It takes the product research engine behind Honestly and pairs it with the operating discipline the founders picked up at Uber India.

Why 360 ONE Asset and Kunal Shah Are Backing Firi

For 360 ONE Asset, the case for Firi rests on curation. Abhishek Nag, head of venture capital at the firm, described Firi’s curated product selection as a key part of its approach to beauty commerce. He said the mix of AI-led discovery, product research and fast fulfilment could build consumer trust and give beauty brands an effective distribution channel.

Kunal Shah’s participation adds a well-known consumer-tech name to Firi’s cap table. The CRED founder is one of India’s most active angel investors. Better Capital is also a regular early backer of Indian consumer startups.

India’s Beauty Quick Commerce Market Is Heating Up

Firi enters a beauty quick commerce market in India that is getting crowded fast. Nykaa, which recently reported Q3 FY26 profit up 156%, has launched Nykaa Now for rapid delivery in select cities. Blinkit, Zepto and Swiggy Instamart have also expanded their beauty and personal care shelves.

Investors are backing the brands too. Clayco’s Series A and Uni Seoul’s ₹35 crore round show strong demand for beauty and lifestyle retail in India.

The difference is focus. Generalist apps treat beauty as one more aisle. Firi is betting that shoppers will prefer a platform that only stocks products it has vetted.

The Challenge Ahead for Firi

Firi’s biggest challenge will be unit economics. Beauty orders usually carry higher values than grocery orders, which helps. Still, repeat purchases and dark store utilisation will decide whether the model works outside Gurugram.

What’s Next for Firi

With $3 million in fresh capital, Firi now has room to test whether curated, fast beauty delivery can build loyalty in one city before it scales. New categories and two more dark stores are its next milestones. Investors will be watching retention closely.

Following India’s quick commerce race? Follow KnowStartup for weekly startup funding news.

Author

Sachin

Sachin Sidharth is a Digital Marketing professional with a master’s degree in Digital Marketing from Coventry University, UK. He has 10+ years of blogging and online marketing experience. He currently heads Digital Acquisition for a leading London-based Fintech firm. At KnowStartup.com He focuses on writing Digital Marketing guides and manages...

Beauty Quick Commerce Startup Firi Raises $3 Million From 360 ONE Asset, Kunal Shah