B2B Manufacturing Startup Groyyo Raises $ 4.6 Million in Funding Led by Alpha Wave Incubation


Mumbai-based B2B manufacturing and automation start-up Groyyo on Monday announced it had raised $ 4.6 million in seed funding led by Alpha Wave Incubation (AWI), which is supported by DisruptAD , ADQ’s venture capital platform, and managed by Falcon Edge Capital. .

The cycle also saw the participation of renowned angels such as Deepak Jain (Partner and Head of Manufacturing, Bain & Co), Arpan Seth (Partner and Global Head of PE – Bain & Co), Maninder Gulati, Chief Strategy Officer world of the OYO group, and Bombay Chamber of Commerce President Anjali Bansal. The early investors, Sparrow Capital and the remarkable venture capital fund Stride Ventures, also participated in this cycle.

Founded in July 2021 by Subin Mitra, Pratik Tiwari and Ridam Upadhyay, Groyyo focuses on transforming the manufacturing sector by leveraging technologies such as AI. He has worked with over 200 manufacturers in all categories maximizing their potential within six months of going live. Previously, the founders held key leadership positions at B2B unicorns Zilingo and Udaan, respectively.

The company’s real-time production software digitizes partner factories, enabling production tracking and intelligent inputs to optimize efficiency. Groyyo has worked with MSMEs across South Asia.

The company will use the latest funding to build its teams in key manufacturing clusters in South Asia, while expanding its presence in the United States and West Asia, establishing a global footprint. In addition, it will invest aggressively in the technological and physical upgrading of its manufacturing partners.

Subin Mitra, co-founder of Groyyo, said, “The future of global sourcing will be dominated by small manufacturers. With the rise and dominance of D2C brands, there is a pressing need for transparent, compliant, and quality manufacturers who can meet low minimum orders, quick turnaround times, and competitive pricing. Our mission at Groyyo is to bring technology to millions of micro-manufacturers across South Asia and to change the face of sourcing, on a global scale. “

Anirudh Singh, Managing Director of Alpha Wave Incubation, added: “We believe product sourcing is a global challenge with huge opportunities for both demand and supply. We really liked the sourcing approach Groyyo took, which helps it cater for a plethora of categories and products to serve buyers around the world. In addition, we also believe that Groyyo’s solution will give a boost to the growing segment of small manufacturers in South Asia, which is thirsty to work with large-scale customers.

Source link


Comments are closed.