Daily Newsletter

25 June 2024

Daily Newsletter

25 June 2024

Fashion tech startup Zyod raises $18m to expand international presence

Zyod, a tech-enabled fashion manufacturing platform, has raised $18m in Series A funding to expand its operations, focusing on technological advancements and talent acquisition to become the “one-stop solution” for apparel manufacturing in India and the world.

Isatou Ndure June 25 2024

The fresh capital will be used to expand Zyod's operations to more than 40 countries, aligning with its vision of taking “India to the world.”

The company’s innovative approach includes modularising fashion styles, using data to boost efficiency, and employing smart ERP solutions to optimise and scale its supply chain. These strategies aim to set a new standard in international apparel manufacturing, particularly in the fast-fashion segment.

Founded in 2023, Zyod offers solutions from design to delivery, serving over 350 customers across 18+ countries. This latest funding round, led by RTP Global, follows a $3.5 million seed round by Lightspeed, and new investors Alteria Capital, Stride Ventures, Stride One, and Trifecta Capital.

Nishit Garg, partner on RTP Global's Asia investment team, commented: "We are excited to support Zyod as they expand their transformative platform internationally, showcasing the potential of Indian entrepreneurship on the global stage."

On the successful fundraiser, Ankit Jaipuria, co-founder of Zyod said: “With this funding we will continue to collaborate closely with local hand-picked 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.”

Rahul Taneja, partner at Lightspeed, reaffirmed its commitment to the company, highlighting Zyod’s ability to serve customers across 18 countries by establishing an agile supply chain that enables customers to reduce their inventory dramatically.

Co-founder Ritesh Khandelwal touched on Zyod's unique selling proposition: " Our proposition of providing 5X faster sourcing enables global brands to source high-quality clothes with unmatched speed in a rapidly changing industry. With our flexible MOQs, we empower brands, retailers and wholesalers to test new markets while avoiding the risk of high bulk orders, thereby making their businesses more sustainable.”

The company's ambitious plans include doubling its customer base and introducing 100,000 unique designs every month to cater to a global audience.

Last week (18 June), the International Finance Corporation (IFC) provided $100m in debt financing to Hong Kong-based clothing manufacturer, Epic Group to support sustainable textile manufacturing expansion in Bangladesh and India.

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