Groyyo raises Rs 90 Cr in first close of Series B round led by Cornerstone Ventures

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AI driven fashion manufacturing platform Groyyo has raised Rs 90 crore ($9.4 million) in the first close of its Rs 200 crore ($20.8 million) Series B funding round led by Cornerstone Ventures, with participation from existing investors.
The equity funding has come after a gap of more than four years for the Gurugram based startup. In June 2022, Groyyo had raised $40 million in a Series A round comprising debt and equity led by Tiger Global, with participation from Alpha Wave, Stride Ventures and Sparrow Capital. In January 2024, it also secured $5.4 million in debt funding from Lighthouse Canton and Trifecta Capital.
The fresh proceeds will be used to expand Groyyo's manufacturing network across new hubs, strengthen its AI based design and trend forecasting platform, and deepen its presence in North America, Europe and the Middle East.
Founded in 2021 by Pratik Tiwari and Subin Mitra, Groyyo operates an AI driven B2B platform that connects global fashion brands with a network of manufacturing partners. Its platform digitises the entire apparel production cycle, from design and costing to production tracking, quality checks and logistics.
The company also offers a factory operating software that enables manufacturers to manage production, inventory and finance while providing brands with real time visibility into the manufacturing process.
According to the company, it has built a supplier network of more than 470 manufacturers and serves over 45 international brands across 10 countries.
"Fashion supply chains have run on relationships and spreadsheets for decades. We set out to build the operating system that the industry actually needs," said Subin Mitra, co-founder of Groyyo.
Groyyo also plans to use the fresh capital to scale its AI infrastructure, expand its supplier network and strengthen its technology platform. The company is targeting an annualised revenue run rate of Rs 500 crore in FY26 and aims to cross Rs 3,000 crore in revenue over the next three years while improving profitability.
"Global fashion supply chains are still one of the largest, most fragmented markets that technology hasn't fully touched," said Vatsal Bavishi, Partner, Cornerstone Ventures. "Groyyo has built a technology-first global infrastructure, not just a marketplace.

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