B2B manufacturing startup Groyyo on Monday said it has elevated $4.6 million in a seed round of subsidy led by Alpha Wave Incubation (AWI).
Founded in July 2021, Groyyo has been working with MSMEs across South Asia.
The company said it has authorized more than 200 manufacturers across South Asia by maximising their potential within six months of inception.
The latest funding, it added, will help build its teams across key engineering clusters in South
Asia along with expanding its presence across the US and the Middle-East.
"With the rise and dominance of D2C brands, there is a pressing need for transparent, compliant, quality constructors who can cater to low minimum order sizes, fast turnaround times, and price competitiveness," said Subin Mitra, Co-Founder, Groyyo.
The funding round also saw contribution by investors 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.
Groyyo said it is dedicated to driving growth creating chances for smaller players via its factory-first monetisation model.
"We believe product sourcing is a global challenge with massive openings across both demand and supply. We really liked the supply first approach approved by Groyyo," said Anirudh Singh, Managing Director, Alpha Wave Incubation (AWI).
AWI is backed by DisruptAD, ADQ's venture platform, and managed by Falcon Edge Capital.
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