Groyyo, a startup founded in July 2021, is empowering micro, small, and medium enterprises (MSMEs) in the fashion and lifestyle industries by bringing them onto a unified platform. This platform helps these small manufacturers grow and improve their business operations.
Recently, Groyyo raised INR 40 crore ($5.4 million) in a debt funding round from Lighthouse Canton and Trifecta Capital. The new funds will help Groyyo strengthen its financial reserves and further its mission to transform the manufacturing sector.
The company, based in Delhi NCR, plans to use this capital to introduce essential technology to small factories, starting with an order management app. This will give many small-scale factories, often overlooked, a chance to modernize their operations. So far, Groyyo has onboarded over 360 factories, producing products in 150 categories for more than 110 brands.
Groyyo’s Co-founder and CEO, Subin Mitra, shared, “With this funding, we can work with more SMEs and help them take their businesses global. Our goal is to help small manufacturers across South Asia digitize their operations and reach international markets.” Mitra also emphasized that this aligns with India’s Make in India initiative, which aims to bring more global demand to the country.
In addition to its presence in India, Groyyo operates in the UAE, Bangladesh, Vietnam, and Turkey, helping increase efficiency for manufacturers. The company has also expanded its partnerships to global retailers like Inditex, Next, Mango, Ross, and Burlington.
Earlier in 2022, Groyyo raised $40 million in a Series A funding round, which it used to expand its team across key manufacturing regions in India, Bangladesh, and global demand centers in the US and Europe.
With this new funding, Groyyo continues its mission to empower small manufacturers and help them thrive on the global stage.
