Key Takeaways
- Groyyo raised ₹90 Cr as part of an ongoing ₹200 Cr Series B round led by Cornerstone Ventures
- The startup claims a ₹500 Cr revenue run rate in FY26 and targets ₹3,000 Cr in three years
- Global fashion brands diversifying away from China are driving demand for tech-enabled supply chain platforms
Groyyo, a Gurugram-based B2B manufacturing platform, has raised ₹90 Cr (about $9.3 Mn) as part of an ongoing ₹200 Cr Series B round led by Cornerstone Ventures. The startup connects global fashion brands with verified garment manufacturers and plans to use the capital to expand its factory network and AI-powered design tools across North America, Europe, and the Middle East.
With this round, Groyyo has raised roughly $50 Mn to date. Its investor roster includes Tiger Global, Alpha Wave, Sparrow Capital, and Stride Ventures. The company previously closed a $27 Mn Series A.
What does Groyyo actually do?
Founded in 2021 by Subin Mitra, Pratik Tiwari, and Ridam Upadhyay, Groyyo operates a platform that helps international fashion brands source apparel from manufacturers, primarily in South Asia. The pitch goes beyond matchmaking. Its AI tools handle trend forecasting, product design, production tracking, quality control, and logistics. Factories get software to manage inventory, compliance, financing, and daily operations.
The company claims a network of more than 470 manufacturers serving over 45 international brands across 10 countries. Upadhyay left the company last year.
“This round lets us go deeper into the categories and geographies where brands are asking for more speed, more transparency, and more reliability. The next phase for us is about scaling what already works — our factory network, our AI infrastructure, and our ability to compress the distance between a design and a delivered product — without losing the trust we've built with our partners.”
— Subin Mitra, cofounder, Groyyo
Revenue claims and growth targets
Groyyo claims its international expansion into the US and UK pushed its revenue run rate to ₹500 Cr in FY26, with what it describes as "category-leading PAT margins." The company is targeting revenue above ₹3,000 Cr over the next three years, a sixfold increase.
Last year, Groyyo acquired a majority stake in Oussum Inc, a New York-based online women's wear company, to strengthen its US B2B retail presence.
Why now? The China diversification factor
The funding arrives as Western fashion brands accelerate their "China+1" sourcing strategies. Tariff uncertainty, geopolitical tension, and supply chain disruptions during COVID pushed many brands to seek alternative manufacturing hubs. India, Bangladesh, and Vietnam have been the primary beneficiaries.
Groyyo operates in what it values as a $120 Bn market across SME manufacturing in apparel and textiles. Competitors include Fashinza, Geniemode, and ZYOD in the apparel-specific space, plus broader B2B supply chain players like OfBusiness.
The competitive landscape
Fashinza, backed by Accel and Elevation Capital, raised $30 Mn in 2022 and similarly targets the fashion supply chain with tech-enabled sourcing. ZYOD focuses on fast fashion with shorter lead times. Geniemode has positioned itself as a cross-border B2B commerce platform spanning multiple categories beyond apparel.
Groyyo's differentiation rests on its AI layer, the breadth of its factory network, and its software suite for factory operations. Whether that moat holds as competitors scale their own tech stacks remains the open question.
Logicity's Take
Groyyo's claimed jump from ₹500 Cr to ₹3,000 Cr in three years is aggressive, but the tailwinds are real. Western brands are not just diversifying suppliers; they want visibility into every production step. That is where AI-driven platforms gain leverage. The risk? This space is crowding fast. Fashinza, ZYOD, and OfBusiness are all chasing similar brand contracts. For finance teams evaluating supply chain software, the comparison should focus on integration depth, factory compliance auditing, and actual lead-time compression, not just headline features. Groyyo's profitability claim ("category-leading PAT margins") is unusual for a growth-stage startup and worth verifying before drawing conclusions.
Frequently Asked Questions
How much has Groyyo raised in total?
Groyyo has raised approximately $50 Mn to date, including a $27 Mn Series A and the current ₹90 Cr tranche of its ₹200 Cr Series B round.
Who are Groyyo's main competitors?
Groyyo competes with Fashinza, Geniemode, and ZYOD in apparel sourcing, and overlaps with broader B2B supply chain platforms like OfBusiness.
What markets is Groyyo expanding into?
The company is deepening its presence in North America, Europe, and the Middle East, building on existing operations in the US and UK.
Why are fashion brands moving manufacturing away from China?
Tariff risks, geopolitical tensions, and supply chain disruptions during COVID have pushed brands to adopt "China+1" strategies, diversifying to India, Bangladesh, and Vietnam.
Need Help Implementing This?
Evaluating supply chain software for your organization? Logicity can help you map vendor capabilities to your operational requirements. Reach out at hello@logicity.in.
Source: Inc42 Media / Anne Florentyna
Manaal Khan
Tech & Innovation Writer
Produced with AI assistance and reviewed by the Logicity editorial team. Learn more in our Editorial Policy.
