B2B startup Groyyo gets $40M for team expansion, product & tech development
Groyyo has secured $40 million in a Series A round of funding. The money will be used to expand the production workforce as well as product and technology development for the B2B manufacturing and automation startup. Groyyo, a B2B manufacturing and automation firm, has secured $40 million in a Series A fundraising round that will be used to expand its production teams as well as product and technology development. According to the article, the Mumbai-based company wants to grow its manufacturing workforce count in India, Bangladesh, the United States, and the European Union. Other investors included loan investors Blacksoil and Capsave Finance, as well as Bahram Vakil (founder and senior partner at AZB & Partners) and Vineet Gautam (CEO of Bestseller India). In the research, Groyyo Co-Founder and CEO Subin Mitra stated, "The [small- to medium-sized company (SMB)] manufacturing ecosystem in the fashion and lifestyle categories across South Asia is tremendous...