Lightspeed, others led $3.5 M Seed funding raised by global B2B platform Zyod
A global B2B platform for sourcing and manufacturing apparel, Zyod, has raised $3.5 million in a seed round that was co-founded and led by Lightspeed. FJ Labs, Panthera Peak Capital, and angel investors including Abhishek Goyal, Abhinav Sinha, Gaurav Hinduja, Ravi Khandelwal, and others also participated in the round.
According to a press release from the company, Zyod intends to use the funds to further strengthen the technology platform and team. Zyod will continue to expand its network of MSMEs in the apparel sourcing and manufacturing segment by adding more manufacturers and suppliers and introducing new features. The company is actively recruiting for positions in departments like product, technology, marketing, and operations.
Zyod, founded by Ankit Jaipuria and Ritesh Khandelwal, provides specialized support to clients worldwide looking to establish and expand their fashion companies and brands. The business claims that it can deliver a new range of products in 21 days with a minimum order quantity of just 50 pieces. It asserts that the rare combination of 50x lower MOQs and 5x faster sourcing speeds makes it a profitable choice for both international brands and buyers.
Zyod claims to have seen a consistent market demand since its inception and has already worked with over 150 clients in 13 different countries.
In July of last year, Lightspeed Venture Partners raised $500 million for its largest fund focused on India and Southeast Asia. The Silicon Valley-based venture capital firm has significantly increased the size of its fourth India fund from its prior corpus of $275 million in 2020. This company has backed startups including Oyo, Udaan, Sharechat, and Byju’s.
