B2B Apparel Manufacturing Platform ZYOD Raises $18M Led by RTP Global
- ByStartupStory | June 25, 2024
Gurugram-based B2B manufacturing platform Zyod has successfully secured $18 million in a Series A funding round, marking a significant milestone in its journey towards revolutionizing the apparel manufacturing industry. The funding, comprising a blend of debt and equity investments, was spearheaded by RTP Global. Notably, returning investors Lightspeed Venture Partners and Alteria Capital also participated in the round, alongside contributions from Stride Ventures, Stride One, and Trifecta Capital.
Zyod, founded in April 2023 by Ankit Jaipuria and Ritesh Khandelwal, aims to use the raised capital primarily for expanding its global footprint to 40 new countries. Currently operational in 18 countries, Zyod partners with leading fashion apparel brands, offering comprehensive services from design conceptualization to manufacturing and delivery.
Ankit Jaipuria, Co-founder of Zyod, emphasized the company’s strategic priorities: “I did not know earlier that from design to delivery it takes fashion houses six months to get the new designs for each season. Post Covid, the number of seasonal launches has increased.”
Jaipuria highlighted Zyod’s commitment to innovation in addressing industry challenges: “We took a three-pronged approach to working with apparel brands – we promised end-to-end design and delivery, faster turn-around time and lower Minimum Order Quantity (MOQ) for manufacturing.”
Reflecting on Zyod’s technological advancements, Jaipuria explained, “We have digitised the combination of patterns which can be mixed and matched. This ultimately reduces fabric wastage, and solves the problem of dead inventory for the brands.”
Nishit Garg, Partner at RTP Global’s Asia investment team, expressed optimism about Zyod’s future trajectory: “ZYOD leverages tech to refine every facet of the production process, right from a modular design approach to optimising operations at the factory level. We are excited to support ZYOD as they expand their transformative platform internationally, showcasing the potential of Indian entrepreneurship on the global stage.”
Zyod’s success comes amidst a competitive landscape with players like Fashinza and GenieMode. Fashinza, which had raised $75 million from marquee investors, recently returned investor capital after failing to find product-market fit, according to reports.
With a strong presence in manufacturing hubs such as Jaipur, Delhi-NCR, Ludhiana, and Thiruppur, Zyod is evaluating new markets to further enhance its service offerings.
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