Groyyo, an Indian business-to-business platform that links garment manufacturers with global fashion brands, raised ₹90 crore (about $9.4m) in the first close of a Series B round, according to reports dated 18 July 2026. Cornerstone Ventures led the round, and existing investors took part.
A legal notice published by the law firm that advised the company named the lead vehicle as Cornerstone Ventures Enterprise Tech Fund II, with existing investor Alpha Wave Incubation also participating. The money is the first part of a larger round, Newskart reported, which put the full target at $20m. No valuation was disclosed.
What Groyyo does
The company runs a platform that digitises supply chain management for the apparel industry. It uses AI tools for trend forecasting and design, and for managing the production lifecycle, with the stated aim of shortening production lead times by connecting manufacturers with international brands.
Newskart reported that Groyyo works with about 470 manufacturers and 45 international brands, and is active in India, North America, the UK, Europe and the Middle East. It said the company applies AI to trend identification, design support, demand planning and supply chain efficiency. Groyyo has reported a revenue run rate of about ₹500 crore for the 2025-26 financial year, Newskart said, citing reports rather than a company statement.
Founders and earlier funding
Groyyo was founded in 2021 by Subin Mitra, Pratik Tiwari and Ridam Upadhyay, and is based in Gurugram, according to The SaaS News and Newskart. Newskart said some reports also name Nitin Jain as a later co-founder who drives global growth.
Earlier investors include Tiger Global, Alpha Wave Global, Sparrow Capital and Stride Ventures. Newskart put total funding at about $54m according to recent reports. SCC Times noted that the investor base is cross-border, spanning Singapore and the UAE. The company did not disclose headcount, and no executive was quoted in the reports reviewed.
What the money is for
Groyyo said it will use the new capital to grow its manufacturing network, scale its operations within India, improve its proprietary AI tools and enter international markets, specifically North America, Europe and the Middle East. SCC Times described the same priorities: widen the manufacturer network, deepen the AI design and trend forecasting tools and build a presence in the three overseas regions.
Shardul Amarchand Mangaldas, led by partner Navruz Vakil, advised Groyyo Private Limited and its founders on the fundraise, Bar & Bench reported.
Growth targets and positioning
Newskart reported that reports suggest Groyyo is aiming for more than ₹3,000 crore of revenue over the next three years, a target that rests on press reports rather than a company announcement. The outlet also said the company is active in India, North America, the UK, Europe and the Middle East, which means the planned push overseas builds on some existing business there.
The SaaS News classed Groyyo as a supply chain technology company and said it positions itself as a way to reduce production lead times by connecting manufacturers to international brands through an AI-driven interface. SCC Times described the company as a technology-enabled platform serving global fashion supply chains with a network of more than 470 manufacturers.
Both the SaaS News report and the later legal notices describe this as a first close, so further investors may still join before the round is completed.
Company website: groyyo.com