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B2B Supply Chain Startup Groyyo Raises $40 Million In Mix Of Equity And Debt Led By Tiger Global

Jun 15, 2022•over 3 years ago

Amount Raised

$40 Million

Description

Bengaluru: Groyyo, a business-to-business (B2B) manufacturing and supply chain enablement company has raised $28 million in equity and $12 million via debt led by Tiger Global. The funding round also saw participation from early investors Alpha Wave Global.

Company Information

Company

Groyyo

About

The company will use the capital to build its teams across key manufacturing clusters in South Asia, and for expansion into the United States and the Middle East. The Mumbai-based startup claims to have digitalised operations of 200 small and medium-sized enterprises in the past six months. The company said that a "Groyyo Standard Factory" will see revenue grow by ~15% & profitability increase by ~20%.“The future of global sourcing is going to be dominated by small manufacturers,” said Subin Mitra, chief executive officer at Groyyo. Founded in July 2021 by Subin Mitra, Ridam Upadhyay and Pratik Tiwary, Groyyo uses artificial intelligence to boost efficiency of what is an extremely fragmented small-scale manufacturing industry.

Funding Insights

Based on industry data
Tech investment trends
83% of B2B companies plan digital investments, with 79% prioritizing customer experience tech