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Groyyo Promotes Nitin Jain to Cofounder Role, Aims to Expand Global Footprint

• ByStartupStory     |    December 27, 2024

B2B manufacturing and supply chain enablement startup Groyyo has elevated Nitin Jain to the role of cofounder from his previous position as managing director of exports.

In his new role, Jain will continue to focus on expanding Groyyo’s international markets. The company stated that Jain has been instrumental in driving its international business growth across diverse regions, including the UK, EU, Australia, and South Korea.

Prior to joining Groyyo, Jain served as the director of marketing at Wearwell India, where he successfully built its global order book, the company added.

Commenting on Jain’s promotion, Groyyo CEO and cofounder Subin Mitra said, “He (Jain) has been pivotal in scaling our exports order book in regions like the UK and EU, bringing onboard strategic customers like Next, John Lewis & Mango. We are confident his larger role will not only enable us to double down on these markets but also expand into newer and more exciting ones like Australia & South Korea.”

Jain expressed enthusiasm about his expanded responsibilities, stating that he would focus on leveraging Groyyo’s capabilities to strengthen existing relationships and forge new partnerships. “I will leverage Groyyo’s design, manufacturing & supply chain capabilities to not only ramp up orders from existing clients but also form additional strategic partnerships,” Jain said.

Groyyo’s Rapid Growth Trajectory

Founded in 2021 by Subin Mitra, Pratik Tiwari, and Ridam Upadhyay, Groyyo empowers manufacturing MSMEs (micro, small, and medium enterprises) in the fashion and lifestyle sectors by digitizing processes such as inventory management and connecting them with global brands.

The startup offers brands in the fashion and lifestyle industries a seamless platform to browse products and connect with manufacturers, along with providing fabric and yarn to these manufacturers.

Groyyo has onboarded over 360 MSMEs that produce more than 150 categories of products for over 110 brands across 9+ countries. The startup claims that its exports business has witnessed 3X growth over the past two years and is actively expanding into new markets, including the US, UK, and EU.

Recent Milestones and Funding

In January 2024, Groyyo secured $5.4 Mn in debt funding from Lighthouse Canton and Trifecta Capital, bringing its total funding to over $36 Mn to date. The startup counts Tiger Global and Alpha Wave Global among its prominent investors.

Additionally, in September, Groyyo appointed Smita Verma Kansal as chief business officer (CBO) and Alessandro Bertini as vice president – commercial, reinforcing its leadership team as it continues its growth trajectory.

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