Zyod, a global B2B platform for apparel sourcing and manufacturing, has raised $3.5 million in its seed round led by Lightspeed. The round also saw participation from FJ Labs, Panthera Peak Capital, and angels such as Abhishek Goyal, Abhinav Sinha, Gaurav Hinduja, Ravi Khandelwal and others.
Zyod plans to use the funds to further strengthen the technology platform and team, the company said in a press release. From adding more manufacturers and suppliers to introducing new features, Zyod will also continue to build a larger network of MSMEs in the apparel sourcing and manufacturing segment. The brand is actively hiring across functions such as product, tech, marketing, and operations.
Founded by Ankit Jaipuria and Ritesh Khandelwal, Zyod offers exclusive support to global customers looking to launch and grow their fashion businesses and brands from scratch. According to the company, it can provide a new range of products within 21 days with as low as 50 pieces MOQ. It claims that this unique combination of 5x faster sourcing at 50x lower MOQs makes it a lucrative option for global brands and buyers.
Since its inception, Zyod claims to have witnessed a steady market demand and has already served over 150 customers across 13 countries.
Lightspeed Venture Partners had raised its largest fund dedicated to India and Southeast Asia at $500 million in July last year. The Silicon Valley-headquartered venture capital firm, which has backed startups such as Oyo, Udaan, Sharechat, and Byju’s, has increased the size of its fourth India fund substantially from its previous corpus of $275 million in 2020.