PE Fund Investments
B2B automation startup Groyyo raises $27-M from Tiger Global, Alpha Wave, others
Gurugram-based business-to-business (B2B) manufacturing and automation startup Groyyo has raised USD 27 million (INR 210 crore). Tiger Global led the Series A round with INR 152.9 crore followed by existing investor Alpha Wave Global which invested INR 49.7 crore. Sparrow Fund, Stride Opportunities and three individual investors Aditi Bhandari, Vineet Gautam and Bahram Vakil collectively put in INR 7.6 crore. After the allotment, Tiger Global holds a 12.7% stake in the company while the stakes of co-founders Pratik Tiwari, Subin Kumar Mitra and Ridam Upadhyay have been diluted to 53.5%. Groyyo uses artificial intelligence to boost efficiency in a fragmented small-scale manufacturing industry.
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