Seed Group, a company of the Private Office of Sheikh Saeed bin Ahmed Al Maktoum, has joined hands with Indian B2B supply chain start-up Groyyo, which specialises in the fashion retail industry.
The partnership seeks to transform B2B manufacturing and sourcing processes with innovative technologies. According to a statement, Groyyo will provide manufacturing and automation services with technologies like artificial intelligence, technological innovation, standardisation, and industry guidance. These services will be focused on retailers in the region.
The startup is now looking to expand its presence in the UAE and the Middle East region, capitalising on the region’s rapid technological adoption and retail market growth. Groyyo aims to clock $50 million in revenue from the Middle East in the next 12 months with the Seed Group’s support.
Groyyo currently works with more than 500 manufacturers and 100 fashion brands. It has operations in more than 10 countries and employs more than 150 people in the region. It has already received funding $45 million in funding from the Alpha Wave Incubation, which is backed by the Abu Dhabi Developmental Holding Company PJSC (ADQ).
Subin Mitra, Co-founder & CEO of Groyyo, said, “The Middle East being one of the fastest growing retail markets globally is of key strategic focus to Groyyo’s growth plans. This partnership with Seed Group will help us expand in the region and dominate this market in the coming months.”
Meanwhile, Hisham Al Gurg, CEO of Seed Group and the Private Office of Sheikh Saeed bin Ahmed Al Maktoum, said, “Automation and manufacturing form an important segment of economies in the Middle East. With its innovation-centric approach, Groyyo is poised to bring about revolutionary changes in the manufacturing industry, thereby giving a chance to hundreds of businesses in the region to improve their bottom lines and succeed in a highly competitive world. We look forward to working with Groyyo.”
