Groyyo Raises Rs 90 Crore in AI Driven Fashion Manufacturing

AI driven fashion manufacturing platform Groyyo has successfully secured Rs 90 crore ($9.4 million) in the first phase of its Rs 200 crore ($20.8 million) Series B funding round. This funding was led by Cornerstone Ventures, with participation from current investors. This equity funding marks Groyyo’s return to the investment scene after more than four years. In June 2022, Groyyo raised $40 million in a Series A round, which included both debt and equity and was led by Tiger Global, alongside contributions from Alpha Wave, Stride Ventures, and Sparrow Capital. Additionally, in January 2024, Groyyo received $5.4 million in debt funding from Lighthouse Canton and Trifecta Capital.

Utilisation of New Funds

The newly acquired funds will facilitate Groyyo’s expansion of its manufacturing network into new hubs. It will also enhance its AI driven design and trend forecasting platform while increasing its presence in regions such as North America, Europe, and the Middle East.

About Groyyo

Founded in 2021 by Pratik Tiwari and Subin Mitra, Groyyo operates an AI based B2B platform that links global fashion brands with a network of manufacturing partners. The platform digitises the complete apparel production cycle, encompassing design, costing, production tracking, quality assurance, and logistics.

Factory Operating Software

The company also provides a factory operating software that allows manufacturers to oversee production, inventory, and finance. This software grants brands real time visibility into the manufacturing process.

Growing Supplier Network

As per the company, Groyyo has established a supplier network comprising over 470 manufacturers and caters to more than 45 international brands across 10 countries. Subin Mitra, the co-founder of Groyyo, indicated that “Fashion supply chains have relied on relationships and spreadsheets for decades. The goal was to create the operating system that the industry truly needs.”

Future Aspirations

Groyyo plans to leverage the new funding to enhance its AI infrastructure, broaden its supplier network, and fortify its technological platform. The company aims for an annualised revenue run rate of Rs 500 crore in FY26 and has set a target to exceed Rs 3,000 crore in revenue within the next three years while also improving profitability.