Dubai Royal Family’s Private Office Partners With Groyyo, To Enhance B2B Fashion Supply Chain

Updated on: 1 February 2023 4:29 pm

Since its inception in 2020, Bigin has served nearly 20,000 customers globally. It has grown 74 per cent on a year-on-year basis

Zoho's CRM Platform Bigin Grows 74% YoY Photo: Since its inception in 2020, Bigin has served nearly 20,000 customers globally. It has grown 74 per cent on a year-on-year basis

Seed Group, a company of the Private Office of Sheikh Saeed bin Ahmed Al Maktoum, has partnered with Mumbai-based business-to-business (B2B) supply chain enablement start-up Groyyo. The partnership seeks to transform B2B manufacturing and sourcing processes with cutting-edge and innovative technologies.

Groyyo is a B2B manufacturing growth platform which aims to empower the 20 million micro-manufacturers and give them an opportunity to take their business global. The start-up now seeks to expand its footprint to the United Arab Emirates (UAE) and the Middle East region, leveraging from the fast rate of technology adoption and retail market growth there. Groyyo aims to clock $50 million in revenue from the Middle East in the next 12 months with the private office’s support.

Groyyo was started in 2021 by Subin Mitra, Pratik Tiwari and Ridam Upadhyay, with the aim to empower and upgrade manufacturing and automation services with technologies like artificial intelligence, innovation, standardisation and industry guidance.

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The association aims to provide Groyyo with the guidance to reach out and work with a wider range of clients, access top decision-makers in the government and the private sectors, and contribute to adding the latest technological innovations in the region.

"Automation and manufacturing form an important segment of economies in the Middle East. With its innovation-centric approach, Groyyo is poised to bring about revolutionary changes in the manufacturing industry, thereby giving a chance to hundreds of businesses in the region to improve their bottom lines and succeed in a highly competitive world," said Hisham Al Gurg, chief executive officer (CEO) of Seed Group and the Private Office of Sheikh Saeed bin Ahmed Al Maktoum.

“The Middle East being one of the fastest growing retail markets globally is of key strategic focus to Groyyo’s growth plans. This partnership with Seed Group will help us expand in the region and dominate this market in the coming months,” added Subin Mitra, co-founder and CEO of Groyyo.

B2B supply chain enablement company Groyyo has so far raised $45 million in capital from marquee investors including Alpha Wave Incubation (Backed by Abu Dhabi’s ADQ) and Tiger Global. The company is currently working with over 500 manufacturers and more than 100 fashion brands with operations across 10 countries and a team of about 150 across the region. Touching $200 million in annualised volume as of quarter 3 (Q3) - the company has grown 200 per cent every quarter while achieving Earnings before interest, taxes, depreciation, and amortization (EBITDA) positivity. The Middle east accounts for more than 20 per cent of the company’s revenue and is hence of key strategic focus.