B2B manufacturing startup Groyyo raised $40 million in Series A led by Marquee investor Tiger Global
B2B manufacturing startup Groyyo raised $40 million in a mix of debt and equity in Series A led by Marquee investor Tiger Global where existing investors Alpha Wave, Sparrow Capital and Stride Ventures with
Debt players such as Blacksoil and Capsave Finance provided the debt, further, angel investors Bahram Vakil and Vineet Gautam also participated.
Groyyo enables SMEs in the fashion and lifestyle industries to gain access to global markets and obtain lower-cost raw materials. Groyyo plans to use the funds to expand its team across manufacturing clusters in India and Bangladesh, as well as key demand belts in the United States and Europe. It will also invest in the development of new products and technologies in order to create a more efficient ecosystem. Groyyo claims to have over 400 manufacturers as clients in the US, EU, MENA, and North America, representing over 150 product categories. It claims to have a yearly revenue of more than $100 million.