Groyyo, a manufacturer-first automation platform, has raised $5.4 million in a debt round from Lighthouse Canton and Trifecta Capital. This round also includes a fund facility provided by Lighthouse Canton to help Groyyo scale its operations in the UAE.
The additional capital will help in expanding Groyyo’s financial reserves, to reinforce its strategic initiatives in the manufacturing sector, the company said in a release.
Founded in July 2021 by Subin Mitra, Pratik Tiwari, and Ridam Upadhyay, Groyyo is a supply chain enablement platform which helps digitise manufacturing small and medium businesses and match demand and supply from national and international clients.
It has boarded more than 100 brands with over 350 factories to its portfolio to date, according to the company.
In June 2022, Gurugram-based Groyyo had raised $40 million in Series A funding in a mix of debt-equity led by Tiger Global with the participation of Alpha Wave, Stride Ventures, and Sparrow Capital.
Groyyo has also propelled its technology-driven solutions in factories across UAE, Bangladesh, Vietnam, and Turkey, resulting in increased efficiency. Moreover, it expanded its reach to global retailers like Inditex, Next, Mango, Ross, and Burlington.