B2B Manufacturing and Automation company Groyyo on Monday announced it has raised $4.6 million in a seed round of funding led by Alpha Wave Incubation (AWI, which is backed by DisruptAD, ADQ’s venture platform, and managed by Falcon Edge Capital.. The financing round also saw the participation of existing investors Sparrow Capital and notable venture-debt fund Stride Ventures.
Marquee angels 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 also particpated in this round.
Founded in July 2021 by Subin Mitra, Pratik Tiwari and Ridam Upadhyay,Groyyo focuses on transforming the manufacturing sector by leveraging technologies such as AI. The Mumbai headquarted startup’s real-time production software digitises partner factories by enabling production tracking and intelligent inputs to optimise efficiency and gives them a global outreach to international and national buyers.
The platform is dedicated to driving growth creating opportunities for these smaller players. Through its factory-first monetization model; the company is focused on sustainable growth and driving efficiency for its factory partners
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Subin Mitra, Co-Founder, Groyyo, said, “The future of global sourcing is going to be dominated by small manufacturers. With the rise & 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. Our mission at Groyyo is to bring technology to the millions of micro-manufacturers across South Asia and change the face of sourcing, globally.”
