SUMMARY
Led by Lightspeed, the round also saw participation from US-based venture funds FJ Labs and Panthera Peak Capital
The startup will use the funds to strengthen its tech platform and hire across multiple verticals
Zyod competes with the likes of homegrown startups such as Fashinza, Groyyo, ReshaMandi and Geniemode in the B2B apparel procurement space
B2B apparel sourcing and manufacturing platform Zyod has raised $3.5 Mn (INR 28.75 Cr) in a seed funding round led by venture capital (VC) firm Lightspeed.
The round also saw participation from US-based venture funds FJ Labs and Panthera Peak Capital, along with angel investors such as Tracxn cofounder Abhishek Goyal, and Abhinav Sinha of OYO, among others.
Speaking to Inc42, Zyod’s cofounder Ankit Jaipuria said that the startup will use the funds to further strengthen its tech platform and scale hiring across verticals.
The capital will also be deployed to add more manufacturers and suppliers to its platforms and upgrade its tech stack.
“At Zyod, we are making fast fashion accessible to every brand/retailer using our unique, agile supply chain. Brands increasingly are relying on us to be the one-stop shop for launching new styles every week without the worry of inventory, making us their partner from design to delivery,” cofounders Ankit Jaipuria and Ritesh Khandelwal said in a joint statement.
Founded in January 2023 by Jaipuria and Khandelwal, Zyod offers an end-to-end design to deliver solutions to fashion brands. Deploying tech solutions, the startup takes over everything from apparel sourcing to manufacturing for apparel companies.
Speaking with Inc42, Jaipuria said that the platform leverages its agile supply chain solutions to help companies ranging from big fashion houses to new upcoming brands, procure products within 21 days with as low as 50 pieces as minimum order quantity.
“This unique combination of 5X faster sourcing at 50X lower MOQs (than industry standard) makes it a lucrative option for global brands and buyers,” Jaipuria added.
In the past three months since its inception, the startup claims to have served more than 150 customers across 13 countries. Zyod claims to have a network of more than 30 local suppliers.
Meanwhile, Zyod is targeting to scale its platform to grow its community of manufacturers and suppliers by 20X soon.
Zyod competes with the likes of homegrown startups such as Fashinza, Groyyo, ReshaMandi, and Geniemode, among others.
