Lighthouse Canton and Trifecta Capital have contributed $5.4 million to the debt round of Groyyo, an automation platform that prioritizes manufacturers. In order to help Groyyo expand its operations in the UAE, Lighthouse Canton has also contributed a fund facility to this round.
According to a press release from the company, the extra funding will support Groyyo’s strategic initiatives in the manufacturing sector by growing its financial reserves.
Groyyo is a supply chain enablement platform that was founded in July 2021 by Subin Mitra, Pratik Tiwari, and Ridam Upadhyay. It assists small and medium-sized manufacturing businesses in digitizing their operations and matching supply with demand from both domestic and foreign customers.
According to the company, it has added more than 350 factories and more than 100 brands to its portfolio thus far.
The Gurugram-based startup Groyyo raised $40 million in Series A funding in June 2022. Alpha Wave, Stride Ventures, and Sparrow Capital were among the debt-equity investors, led by Tiger Global.
Additionally, Groyyo has increased efficiency in factories in Bangladesh, Vietnam, the United Arab Emirates, and Turkey by implementing its technology-driven solutions. Additionally, it reached out to international retailers such as Burlington, Inditex, Next, Mango, and Ross.
