B2B manufacturing startup Groyyo targets 70% turnover from exports by end-2025
Groyyo, the B2B startup that democratizes global supply chain by bringing raw material suppliers, textile manufacturers and global lifestyle brands on a single digital platform, is aiming to double contribution of exports to 60-70% of its overall revenue in the next 12-15 months, up from 30% now, with the main target markets being US and Europe.
Subin Mitra, CEO and Co-founder, Groyyo, said: “We are very bullish on the global market, and aim to increase share of exports in our total revenue from 30% now to 60-70% by end-2025. Our platform’s value proposition has resonated with brands around the world. Our objective is to establish Groyyo as the largest chain for apparel manufacturing services outside China.”
He said the company has continued to refine its solutions and demonstrate tangible improvements in supply chain efficiency. With this, the startup is attracting interest from more and more international fashion and apparel brands looking for reliable, transparent, and efficient supply chain partners. Groyyo has presence in India, Bangladesh, and Turkey from the manufacturing point of view, apart from Vietnam in which the company has started progressing in recently.
Interestingly, the SaaS division of Groyyo has already achieved $2M in Annual Recurring Revenue (ARR). With the launch of multiple new modules, Groyyo SaaS is poised to become the industry’s first end-to-end factory SaaS solution that is fully mobile and multilingual.
Pratik Tiwari, COO and Co-founder, Groyyo, said: “We already work with some of the best-known global marquee brands such as Mango, Inditex, Ross, Next and the Landmark Group. Almost three years of consistent delivery and a proven track record of our expansion into newer markets show that demand for suppliers has been growing at a steady pace from India With global supply chains shifting away from China, the demand for a digital-first, sustainable, and agile supply chain has never been greater. That’s where Groyyo steps in.”
Currently, the apparel industry in India is characterized by significant fragmentation, encompassing a multitude of stakeholders at every stage of the supply chain. Many manufacturers and suppliers operate in silos, leading to a lack of transparency and coordination. This fragmentation results in several inefficiencies such as delays and quality issues. The journey begins at the spinning mills, where raw fibers are transformed into fabric. This fabric then progresses to factories for processing before reaching the stages of cutting, sewing, and stitching. On the buyer’s side, numerous additional stages and participants further complicate the process, from brand strategists to retail distributors.
Groyyo’s mission is to streamline this complex supply chain, making it more accessible, transparent, and efficient for all stakeholders, irrespective of their size or market position. It strives to create a level playing field where SMEs can compete alongside larger enterprises. By equipping these manufacturers with advanced tools, comprehensive resources, and valuable insights, Groyyo empower them to achieve operational excellence and succeed in the competitive apparel industry.
Over time, Groyyo’s success in India paved the way for global expansion. Recognizing the similarities in supply chain challenges faced by textile industries in other countries, the company extended its reach to key textile manufacturing hubs such as Bangladesh and Vietnam. These countries, like India, have vibrant textile sectors with numerous SMEs that can benefit from Groyyo’s solutions.
In 2022, Groyyo raised $40 million in a debt-equity combination in Series A round led by Tiger Global. In January 2024, it raised $5.4 million in venture debt from Lighthouse Canton and Trifecta Capital.