B2B Fashion Marketplace Zyod Secures USD 18 Mn In Mixed Funding

(MENAFN- KNN India) New Delhi, Jun 25 (KNN) Zyod, a business-to-business fashion marketplace, has successfully raised USD 18 million in a combination of equity and debt funding.

The equity round was spearheaded by venture firm RTP Global, while debt capital was provided by Stride Ventures, Trifecta Capital, and Alteria Capital. Existing investor Lightspeed Venture also participated in this funding round.

The company plans to utilise the newly acquired funds to expand its global footprint, aiming to increase its presence from 18 to over 40 countries by the end of the fiscal year.

Zyod intends to deepen its market penetration in key regions such as the United States, the United Kingdom, the Middle East, Asia, and Japan.

Additionally, the funding will be allocated towards expanding Zyod's product categories and enhancing its technological capabilities.

The company aims to improve its ability to predict supply and production gaps, as well as design trends.

Nishit Garg, Partner, RTP Global's Asia investment team, expressed enthusiasm for Zyod's innovative approach, stating, "Zyod leverages technology to refine every facet of the production process, 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."

Founded in January of the previous year by Jaipuria and Ritesh Khandelwal, Zyod currently employs approximately 100 staff members, including designers, engineers, supply executives, and sales personnel. The company is looking to expand its sales teams in international markets.

Zyod's business model involves collaborating with brands throughout the design and manufacturing process.

This approach helps address one of the major challenges in fast fashion: inventory wastage. Jaipuria explained, "We also help manage the supply side so brands can purchase smaller batches of inventory more efficiently."

While exact figures were not disclosed, the company reports an annualised revenue run-rate in the 'double-digit million dollars' range and aims to triple this over the next fiscal year.

Zyod anticipates that 80 per cent of its business will come from international markets in the coming years.

The company currently supplies products to various apparel brands, including Landmark Group, NEXT, Rare Rabbit, FirstCry, and Allen Cooper.

This latest funding round follows a USD 3.5 million round led by Lightspeed Venture in April of the previous year.

As Zyod continues to grow, it expects to maintain a focus on larger enterprise clients for the first three years before seeing an increase in the share of smaller, long-tail clients.

(KNN Bureau)


KNN India

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