In a significant move towards enhancing its global footprint, B2B fashion manufacturing platform ZYOD has successfully raised $18 million in its Series A funding round. Led by RTP Global, this round also saw participation from existing investors Lightspeed and Alteria Capital.
ZYOD plans to utilise this investment to bolster its operations across more than 40 countries. The funding infusion will also fuel advancements in technology, particularly leveraging AI and IoT to automate and proactively manage its diverse value chains.
Ankit Jaipuria, Co-Founder of ZYOD, expressed enthusiasm about the growth trajectory, stating, “We are committed to expanding our reach from India to the global stage. Currently operational in 18 countries, we aim to deepen our market presence in these regions while also venturing into new territories.”
Highlighting strategic expansion plans, Jaipuria emphasised targeting under-served markets such as Africa and South America, alongside strengthening relationships in established regions like Japan, the Middle East, and the United States.
With the global apparel manufacturing and sourcing market valued in trillions, ZYOD sees vast opportunities to cater to diverse market needs and capitalise on emerging trends. The funding will also support ZYOD’s strategic initiatives to address seasonality in the fashion cycle by expanding into geographies in the southern hemisphere.
In a separate development, JCB Salons India recently secured over Rs 40 crore in funding from Blacksoil.
Speaking to CNBC-TV18, Sneh Koticha Contractor, Founder of JCB Salons India asserted that the fundraise will facilitate expansion plans, including the acquisition of Spalon. She highlighted that both JCB and Spalon businesses are EBITDA positive and do not require any additional working capital.
According to reports, the beauty and wellness market is projected to grow at a CAGR of 6% annually to reach approximately $580 billion globally, which underscores the immense potential and attractiveness of the sector.
Additionally, CNBC-TV18’s Aishwarya Anand brings an exclusive report from the India Space Congress, highlighting further advancements and opportunities in the space industry.
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