In just one year of operations, Groyyo, a B2B manufacturing and supply chain technology platform, has reached an impressive milestone: achieving profitability on an EBITDA basis and hitting a revenue run rate of Rs 1,600 crore in FY23. Despite challenging global economic conditions, Groyyo has grown seven times over the past year and doubled its growth every quarter.
Groyyo’s focus on strong unit economics and a commitment to profitability from day one has played a big role in this success. The company has also expanded globally, establishing operations in the US and London, and forming strategic partnerships, including one with the Dubai Royal Family’s Private Office to transform the B2B manufacturing scene in the Middle East.
Subin Mitra, Groyyo’s Co-founder and CEO, said, “Even with tough economic conditions, our focus on building in-house capabilities and staying cost-efficient has helped us grow and scale quickly. However, we know there’s still a lot of room for growth in the global market, and we’ll keep pushing to increase our volume and profitability in the next year.”
Groyyo has also strengthened its supply chain across Asia, opening offices in key cities like Tiruppur, Dhaka, Surat, and Istanbul. It has partnered with over 100 global buyers, including big brands like Inditex, Next, and Carrefour. Groyyo has also built a strong network of over 250 suppliers from India, Bangladesh, and Turkey, along with 50+ mills across the region, giving them more control over the textile supply chain.
The company currently has a team of 170+ employees working across India, the US, the UK, Bangladesh, and Turkey. It has raised $45 million in funding from leading investors like Alpha Wave Incubation and Tiger Global.
Groyyo is set to continue its rapid growth and aims to more than double its size in the next financial year.
