Groyyo, a Mumbai, India-based B2B Manufacturing and Automation company, raised $4.6m in seed funding.
The round was led by Alpha Wave Incubation (AWI), which is backed by DisruptAD, ADQ’s venture platform, and managed by Falcon Edge Capital, with participation from 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. Early investors Sparrow Capital and venture-debt fund Stride Ventures also participated in this round.
The company intends to use the funds 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 presence, and invest in the technological & physical upgradation of its manufacturing partners.
Founded in July 2021 by Subin Mitra, Pratik Tiwari & Ridam Upadhyay, Groyyo is an innovation led B2B manufacturing and automation company that aims to transform the manufacturing sector with AI, technology, innovation, standardization and industry experts’ guidance. Its real-time production software digitizes partner factories by enabling production tracking and intelligent inputs to optimize efficiency and gives them a global outreach to international and national buyers.
The company has already empowered over 200 manufacturers across categories by maximizing their potential within just 6 months of being operational.
FinSMEs
03/01/2022