B2B manufacturing platform Groyyo achieved an annualised revenue run rate of Rs 1600 crore and profitability on an EBITDA basis in its first full financial year. Despite macroeconomic challenges, the company grew 7x, expanded globally, and acquired over 100 new buyers. Groyyo also formed strategic partnerships, opened offices in key cities, and employed over 170 people. Its focus on building a robust supply chain and establishing partnerships has enabled it to emerge as a market leader in the tech-enabled B2B lifestyle space. Groyyo raised $45 million in capital from investors including Alpha Wave Incubation and Tiger Global.
The company has also partnered with over 250 new suppliers from India, Bangladesh, and Turkey and collaborated with 50+ mills across the region to build control over the entire textile supply chain.
According to Groyyo’s Co-founder and CEO, Subin Mitra, despite troubling macroeconomic conditions, their focus on building multiple in-house core capabilities combined with a relentless outlook towards frugality has enabled them to build and scale in this segment. That being said, they still consider themselves very small fish in a very large global market and will continue to aggressively grow their volumes and profitability in the coming financial year.