Indian B2B Manufacturing and Automation startup Groyyo raises USD 4.6 million in Seed round

Groyyo, a Mumbai based B2B Manufacturing and Automation startup, raised USD 4.6 million in a seed funding round led by Alpha Wave Incubation (AWI), which is backed by ADQ’s venture platform, DisruptAD and managed by Falcon Edge Capital, on 3 January 2022.

Investors: Alpha Wave Incubation (AWI) led the latest funding round with participation from notable marquee angels such as Arpan Seth (Partner & Global PE Lead – Bain & Co), Deepak Jain (Partner & Manufacturing Lead, Bain & Co), OYO Group’s Global Chief Strategy Officer Maninder Gulati and Bombay Chamber of Commerce Chairperson Anjali Bansal. In addition, early investors Sparrow Capital and notable venture-debt fund Stride Ventures also contributed to this round.

The Objectives behind the funding: The company plans to deploy the current proceeds to build out its teams across key manufacturing clusters in South Asia along with expanding its presence across the United States and the Middle-east establishing a global footprint. In addition, it will aggressively invest in the technological & physical up-gradation of its manufacturing partners.

About Groyyo

Founded in July 2021 by Subin Mitra, Ridam Upadhyay and Pratik Tiwari, Groyyo is an innovation-led B2B manufacturing and automation startup headquartered in Mumbai. The company aims to transform the manufacturing sector with AI, technology, innovation, standardisation and industry experts’ guidance. The startup has already empowered over 200 manufacturers across categories by maximising their potential within just six months of operationalising. 

What the Founder has to say:

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.

What the Investor has to say:

Anirudh Singh, Managing Director, Alpha Wave Incubation, said, “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, which helps them cater to a multitude of categories and products to serve buyers across the globe. Additionally, we also think Groyyo’s solution will give a fillip to South Asia’s rising small manufacturer segment, which is hungry to work with large scale clients.”

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