Mumbai : B2B manufacturing startup Groyyo on Wednesday said it has raised USD 40 million (about Rs 310 crore) in a combination of equity and debt in its Series A round led by Tiger Global. The funding round also witnessed strong participation from early investor Alpha Wave Global. Existing investors Sparrow Capital and Stride Ventures, and angel investors like Bahram Vakil (founder and Senior Partner at AZB & Partners) and Vineet Gautam (CEO – Bestseller India) were also involved in the round. Debt partners like Blacksoil & Capsave Finance also participated in the round. ”The funds raised will be utilized to exponentially scale the team across manufacturing clusters in India and Bangladesh, and key demand belts in the United States and European Union. The company will also invest aggressively in product and technology development to create a more efficient and sustainable ecosystem,” Groyyo said in a statement. Founded in July 2021 by Subin Mitra, Pratik Tiwari, and Ridam Upadhyay, Groyyo claims to present cater to over 400 manufacturers across more than 150 product categories.