Debt financing
Industry automation platform Groyyo raises Rs.40-Cr from Lighthouse Canton, Trifecta
Groyyo , a Gurugram-headquartered industry automation platform, has raised INR 40 crore from Lighthouse Canton and Trifecta Capital. The financing includes a facility provided by Lighthouse Canton to help Groyyo scale its operations in the UAE.Groyyo consolidates manufacturing Micro, Small, and Medium Enterprises (MSMEs) onto a unified platform, empowering them to expand and enhance their business ventures. The new capital will help fortify Groyyo’s financial reserves and reinforce its strategic initiatives.Founded in July 2021 by Subin Mitra, Pratik Tiwari, and Ridam Upadhyay, Groyyo claims to have enlisted over 360 factories producing a range of products spanning across 150 categories for over 110 brands across 9 countries.In 2022, the company had raised USD 40 million in a debt and equity in its Series A funding round, led by Tiger Global, with participation from Alpha Wave, Sparrow Capital, Stride Ventures and individuals like Vineet Gautam (CEO, Bestseller India) and Bahram Vakil (co-founder, AZB & Partners).
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