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Bangalore-based Zetwerk raised $150 million in new funding
Industry News- Aug 28,21
Zetwerk has raised $150 million in a Series E financing round. The company plans to deploy the fresh capital to broaden its technology stack and expand to more international markets.
Bengaluru, Karnataka
Zetwerk announced that it had raised $150 million in a Series E financing round led by New York-based D1 Capital Partners. The new investment round is valued at $1.33 billion, twice the $600 million - $700 million it was valued at in its Series D round.
The company plans to deploy the fresh capital to broaden its technology stack and expand to more international markets.
The Bangalore-based start-up saw investors like Avenir, IIFL, Greenoaks Capital, Lightspeed Venture Partners, Sequoia Capital and Accel Partners participate in this round. There were also high-profile angel investors like Kunal Shah of CRED and Ritesh Agarwal of OYO.
The firm runs a business-to-business (B2B) marketplace for manufacturing items. It connects OEMs (original equipment manufacturers) and EPC (engineering procurement construction) customers with small manufacturing businesses and enterprises. The firm sells custom-made parts of cranes, doors and chassis of machines.
Zetwerk also has a presence in Southeast Asia and North America with a revenue of $128 million. Zetwerk is the 25th Indian start-up to become a unicorn this year.
Amrit Acharya, Co-founder and Chief Executive, Zetwerk, mentioned that it helps enterprises navigate the shift to digital manufacturing amidst rapidly changing global supply chains. Zetwerk has helped more than 100 western companies move their supply chains to India across industrial and consumer products.
Source – Tech Crunch
Zetwerk
Series E financing round
D1 Capital Partners
investment round
technology stack
investors
Avenir
IIFL
Greenoaks Capital
Lightspeed Venture Partners
Sequoia Capital
Accel Partners
Kunal Shah
CRED
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