With the vision of taking ‘India to the world’, the company would be aiming to deploy the new capital towards its operations across more than 40 countries.
ZYOD, a Business-to-Business (B2B) apparel manufacturing platform raised $18 million in its Series A round of funding. The investment round was led by Venture firm RTP Global, with participation from the existing investors Lightspeed and Alteria Capital and new investors Stride Ventures, Stride one, and Trifecta Capital.
While the debt capital was raised from Stride Ventures, Trifecta Capital and Alteria Capital, Ankit Jaipuria, one of the co-founders reportedly told ET that the “majority” of the funding was in primary equity. In April last year, the firm had raised $3.5 million in a funding round led by Lightspeed Venture
Zyod, co-founded by Ankit Jaipuria and Ritesh Khandelwal in 2003, wanted to make apparel manufacturing hassle-free while making quality fashion more accessible and affordable. The Gurugram-based start-up supplies products to a variety of apparel brands like Gini and Joy, Two’s Company, Rare Rabbit, Allen Cooper etc.
With the vision of taking ‘India to the world’, the company would be aiming to deploy the new capital towards its operations across more than 40 countries. It also plans to lay deeper inroads into current markets like the US, the UK, the Middle East Asia and Japan, according to Jaipuria who spoke to Economic Times.
Speaking about the funding to the PTI, Ankit Jaipuria said, “with this funding we will continue to collaborate closely with local handpicked manufacturers, leveraging our deep expertise in manufacturing to unlock a new phase of growth. Our focus will remain on tech advancements, bringing in more talent and continuing to transform India’s apparel manufacturing ecosystem,” he said.
Co-founder Ritesh Khandelwal too had stated to the PTI that the brand aims to double its customer base and introduce 100,000 unique designs every month.
The start-up firm will also use the funds to focus on the company’s technological capabilities, employ smart ERP solutions to optimize and scale its supply chain thus navigating through a new phase of growth.
As per the report by the Economic Times, Jaipuria said that the firm is also at a “double-digit million dollar” annualised revenue run-rate and is looking to grow by three times over FY25 without giving any numbers. Zyod also expects 80% of its business to come from international markets in the next few years, the report further noted.