In a Series A round headed by RTP Global, Zyod, a global B2B platform for apparel sourcing and manufacturing, has raised $18 million. Participating in the funding round were Lightspeed Venture Partners, Alteria Capital, Stride Ventures, Stride One, and Trifecta Capital. The funding round was a combination of debt and equity investment.
The Gurugram-based startup has received funding twice in the last fifteen months. It raised $3.5 million in a seed round headed by Lightspeed in April 2023.
The company stated that it will use the funds for talent acquisition, technological advancements, and geographic expansion—growing from 18 to 40 new countries.
Ankit Jaipuria and Ritesh Khandelwal founded Zyod, a company that provides exclusive assistance to clients worldwide who want to start and expand their fashion brands and businesses from the ground up. The startup offers a lucrative option for brands, claiming to be able to provide a new range of products within 21 days with a minimum order of just 50 pieces.
It integrates with FirstCry, Aditya Birla, Rare Rabbit, Reliance, and other companies in India. The company wants to add 100,000 new, original designs each month that appeal to a worldwide clientele and double its number of clients.
Zyod anticipates that in the coming years, foreign markets will account for 80% of its business.
ZYOD is in competition with Fashinza, supported by Prosus, and has raised about $150 million to date. According to an ET report, Fashinza intended to reimburse investors for their money because its initial business plans were unsuccessful.
RTP Global, an early-stage venture capital firm, announced in June of last year that its $1 billion fund had closed. A third of its investments, according to the fund, will go into India. It supported a number of startups in 2024, including SydeLabs, Dexif, Varaha, and International Battery Company (IBC).
