Zyod, headquartered in Urugram and operating as a business-to-business manufacturing platform for garments, has raised $18 million in a Series A funding round combining debt and equity investment. The round was led by RTP Global, with participation from returning investors Lightspeed Venture Partners and Alteri Capital. Other investors in the round included Stride Ventures, Stride One, and Trifecta Capital.
Other investors in the round included Stride Ventures, Stride One, and Trifecta Capital.
The company will use the capital to expand into 40 new countries. Currently, it works with fashion apparel brands in 18 countries. A portion of the funds will also be allocated to technological advancements and talent acquisition.
Founded in April 2023 by Ankit Jaipuriya and Ritesh Khandelwal, ZYOD had previously raised $3.5 million in a seed round led by Lightspeed in 2023. In India, it collaborates with Reliance, Aditya Birla, Aporva Rabbit, FirstCry, and others.
“I wasn’t aware earlier that fashion houses take six months to get new designs from design to delivery each season. After COVID, the number of seasonal launches has increased,” said Ankit Jaipuriya, co-founder of ZYOD.
While Jaipuriya’s family has a textile business in Jaipur, he, an IIT Delhi graduate, briefly worked with firms like Axil and Fashins, which address similar problem statements with process-supported fashion. However, reports indicate that Fashins plans to return investor capital earlier this year, citing a mismatch between the product and market.
“We have adopted a three-pronged approach to working with apparel brands—offering end-to-end design and delivery, rapid turnaround times, and low minimum order quantities (MOQs) for manufacturing,” Jaipuriya said.
He added that the company offers customers turnaround times ranging from 40 to 60 days, with MOQs varying from an average of 25,000 pieces per season to as low as 200 pieces, within a six-month turnaround window.
“We have digitized a combination of mix-and-match patterns, which significantly reduces fabric waste and solves the problem of dead inventory for brands,” Jaipuriya added. The company also plans to digitize the supply chain.
ZYOD has a presence in manufacturing clusters in Jaipur, Delhi-NCR, Ludhiana, and Tiruppur. The company is evaluating opportunities in other markets.
“From a modular design approach to optimizing factory-level operations, ZYOD uses technology to refine every aspect of the production process. We are excited to support ZYOD as it scales its transformation platform internationally, showcasing the potential of Indian entrepreneurship on a global stage,” said Nishit Garg, partner in RTP Global’s Asia investment team.
Fashins, which has raised a total of $75 million from marquee investors, operates in a market where ZYOD competes against well-funded rivals like GenieMode, backed by Tiger Global.
