Zyod, a global B2B platform for apparel sourcing and manufacturing, has raised $18 million in a Series A funding round led by RTP Global. This round, comprising both debt and equity investment, also saw participation from Lightspeed Venture Partners, Alteria Capital, Stride Ventures, Stride One, and Trifecta Capital.
This funding marks the second significant investment for the Gurugram-based startup within 15 months. In April 2023, Zyod raised $3.5 million in a seed round led by Lightspeed.
The newly acquired capital will be utilized for geographical expansion, increasing the company’s reach from 18 to 40 countries. Additionally, Zyod plans to enhance its technological capabilities and invest in talent acquisition to support its growth objectives.
Founded by Ankit Jaipuria and Ritesh Khandelwal, Zyod offers comprehensive support to global customers aiming to launch and grow their fashion businesses and brands from scratch. The startup boasts an impressive turnaround time, providing a new range of products within 21 days with a minimum order quantity as low as 50 pieces. This flexibility makes Zyod an attractive option for brands looking to scale quickly and efficiently.
In India, Zyod collaborates with major players such as Reliance, Aditya Birla, Rare Rabbit, and FirstCry. The company aims to double its customer base and introduce 100,000 unique designs each month, catering to a global audience. Zyod anticipates that 80% of its business will come from overseas markets in the coming years.
Zyod’s primary competitor is Prosus-backed Fashinza, which has raised approximately $150 million to date. However, Fashinza has faced challenges in gaining traction with its original business plans and was reportedly considering returning investors’ money.
RTP Global, an early-stage venture capital firm, closed its $1 billion fund in June last year, with a commitment to invest a third of the funds in India. In 2024, RTP Global has backed startups such as International Battery Company (IBC), Dexif, Varaha, and SydeLabs, among others.
With this substantial funding, Zyod is poised to strengthen its market position and drive significant growth in the global fashion industry.
