Groyyo, a B2B manufacturing and supply chain support company raised $40 million in Series A in less than a year through a combination of equity and debt. This financing round was led by Tiger Global, with active participation from early investor Alpha Wave Global.

Existing investors Sparrow Capital, Stride Ventures and angel investors such as Bahram Vakil, founder and senior partner of AZB & Partners and Vineet Gautam, CEO of Bestseller India, also participated in the round, with debt collaborations such as Blacksoil and Capsave Finance Partners participating in this round of financing.

Funds raised will be used to expand manufacturing clusters in India and Bangladesh and teams in key demand belts in the US and EU. The company will also actively invest in product and technology development to create a more efficient and sustainable ecosystem.

Groyyo is a cross-border B2B supply chain support company helping SME manufacturers in South Asia’s fashion and lifestyle sectors.

Founded in July 2021 by Subin Mitra, Pratik Tiwari and Ridam Upadhyay, Groyyo supports more than 400 manufacturers in 150 product categories by maximising their manufacturing potential in just 11 months of operation. Groyyo has annual revenue of $100 million and works with large clients in the US, EU, MENA and North America.

SME manufacturing is a $120 billion industry expected to grow fivefold by 2025. However, in this highly fragmented market, where micro-manufacturers drive approximately 45% of production, most players operate at only 50% capacity utilisation, resulting in severe operational inefficiencies.