Zyod, a business-to-business vogue ecommerce market for apparel sourcing and manufacturing, stated it has raised $3.5 million in seed funding in a spherical led by Lightspeed Venture Partners.
The seed spherical additionally noticed participation from FJ Labs, Panthera Peak Capital, in addition to choose angels comparable to Abhishek Goyal (founder, Tracxn), Abhinav Sinha (international COO, Oyo), Gaurav Hinduja (COO, Gokaldas Exports), Ravi Khandelwal (founder, Yufta) and others.
Zyod plans to make use of the funds to enhance technology and rent extra individuals. From including extra producers and suppliers to introducing new options, the corporate will proceed to concentrate on constructing a bigger community of MSMEs within the apparel sourcing and manufacturing section.
The startups stated it’s actively hiring throughout features comparable to product, tech, advertising, and operations. It has until date onboarded 30 suppliers in India and 130 manufacturers internationally.
Zyod focusses on manufacturers which might be within the quick vogue house, giving them completed merchandise in 21 days, based mostly on their necessities, cofounder Ankit Jaipuria instructed ET. These quick vogue manufacturers promote a a lot wider assortment than the everyday vogue model, however wouldn’t need to maintain 1,000 items — giant stock — of a specific design. The startup presents model orders as little as 50 items.
“Whereas vogue is quickly remodeling globally, the incumbent provide chain has not saved tempo with how quickly customers have developed and it wants an entire reimagination of producing itself, to construct for the longer term,” stated Jaipuria. “At Zyod, we’re making quick vogue accessible to each model/retailer utilizing our distinctive, agile provide chain. Manufacturers are more and more counting on us to be the one-stop store to launch new types each week, with out the concern of stock, making us their companion from design to supply”.
On-line quick vogue has been pioneered by China’s Shein. Just lately, in India, as properly, on-line quick vogue startups comparable to Virgio, based by former Myntra CEO Amar Nagaram, have garnered vital investor curiosity.
ET reported on December 16 that Virgio has been able to raise $35 million, at a valuation of near $160 million, simply months after beginning enterprise.
Zyod, which was based in January 2023, plans to make use of the funds to additionally enhance its provider rely by 20 instances within the close to future.