B2B Manufacturing startup Groyyo raises $4.6M led by Alpha Wave Incubation

Advertisement
B2B Manufacturing startup Groyyo raises $4.6M led by Alpha Wave Incubation
Canva/BI India
B2B manufacturing startup Groyyo on Monday said it has raised $4.6 million in a seed round of funding led by Alpha Wave Incubation (AWI).
Advertisement

Founded in July 2021, Groyyo has been working with MSMEs across South Asia.

The company said it has empowered more than 200 manufacturers across South Asia by maximising their potential within six months of inception.

Complimentary Tech Event
Discover the future of SaaS in India
The 6-part video series will capture the vision of Indian SaaS leaders and highlight the potential for the sector in the decades to come.25th Aug, 2022 Starts at 04:00 PM (40 mins)Register Now
Our Speakers
Dan Sheeran
Sandeep Gupta
The latest funding, it added, will help build its teams across key manufacturing clusters in South Asia along with expanding its presence across the US and the Middle-East.

"With the rise and dominance of D2C brands, there is a pressing need for transparent, compliant, quality manufacturers who can cater to low minimum order sizes, fast turnaround times, and price competitiveness," said Subin Mitra, Co-Founder, Groyyo.

Advertisement

The funding round also saw participation by investors such as Deepak Jain (Partner & Manufacturing Lead, Bain & Co), Arpan Seth (Partner & Global PE Lead - Bain & Co), OYO Group's Global Chief Strategy Officer Maninder Gulati and Bombay Chamber of Commerce Chairperson, Anjali Bansal.

Groyyo said it is dedicated to driving growth creating opportunities for smaller players via its factory-first monetisation model.

"We believe product sourcing is a global challenge with massive opportunities across both demand and supply. We really liked the supply first approach adopted by Groyyo," said Anirudh Singh, Managing Director, Alpha Wave Incubation (AWI).

AWI is backed by DisruptAD, ADQ's venture platform, and managed by Falcon Edge Capital.

SEE ALSO
Mamaearth says it has turned profitable as revenue neared ₹500 crore last year
Advertisement

From Dunzo to Purplle to Khatabook — here are the 21 startups that may turn unicorns in 2022

Tata Motors, Maruti Suzuki, Future Retail and other hot stocks on the first trading day of 2022
{{}}