16 November 2024, Mumbai
B2B marketplace, Zyod is set to expand its operations to over 40 countries, leveraging its scalable technology platform and vast network of SMEs. As the platform grows globally, it remains committed to introducing 100,000 styles monthly while maintaining consistent quality and efficiency.
In future, the platform aims to target underserved markets such as Africa and South America besides strengthening relationships in established regions like Japan, the Middle East and the United States. It also plans to expand to Bengaluru, Ludhiana and Tirupur to build an even more diverse and decentralised manufacturing network, says Ritesh Khandelwal, Co-founder.
Since its inception in Jan’23, Zyod has expanded to 18 countries, working with over 350 brands globally, while reaching an annual GMV of $18 million. Some of its clients include Reliance, FirstCry, Rare Rabbit, Anthropologie, NEXT, Boohoo, Landmark Group, Joop & Gypsy, Aminas Collection, Cactus Rose, Ancestry, Tata Cliq, Allen Cooper, TIGC, Libas, Covers Story, Muse and Payal Singhal, etc.
In June this year, Zyod raised $18 million in Series A funding in a mix of equity and debt funding. The funding was led by venture firm RTP Global, while the debt capital was raised from Stride Ventures, Trifecta Capital and Alteria Capital. Last year too, ZYOD raised $3.5 million in seed funding from Lightspeed India and other investors.
The funds are being used to expand the platform’s technology infrastructure, expand its manufacturing capabilities and scale its operations to new markets. A significant portion of these funds has been allocated to developing its AI-driven fashion forecasting tools and ERP systems, as well as training and integrating local SMEs into our supply chain, adds Khandelwal.
