Zetwerk Raises $120 Million In Funding, Enters Unicorn Club
Zetwerk, a Business-to-business (B2B) marketplace for contract manufacturing, has raised around ₹895 crores ($120 million) as part of its Series E funding round led by global investment firm D1 Capital.
Avenir Growth, Aroa Ventures (VC firm backed by Oyo founder Ritesh Agarwal), QED Innovation and existing investors Greenoaks, Lightspeed Venture Partners, Sequoia, and Accel, also participated in the funding round.
With this funding, Zetwerk has entered the coveted Unicorn club, taking the total number of startups that have crossed the $1 billion valuation mark this year to 24.[Read: How Tech Revolution Has Affected The B2B Market]
Zetwerk | A B2B Marketplace For Contract Manufacturing
Started by Amrit Acharya, Srinath Ramakkrushnan, Rahul Sharma, and Vishal Chaudhary, Zetwerk is a Bengaluru-based B2B marketplace for contract manufacturing. The B2B marketplace for contract manufacturing offers a full spectrum of manufacturing services – from custom-made components to mass production, from quality certification to inventory and supply chain management.
Zetwerk is a partner to leading players in precision parts, capital goods and consumer goods categories, creating products including prefabricated structures for infrastructure projects, precision parts for aerospace, sheet metal for electric vehicles, and assembly lines for consumer durables.
Transforming the world of traditional manufacturing, Zetwerk is helping customers reduce costs, optimize suppliers and execute production faster.
With the increasing interest of investors, B2B marketplaces in India have been raising funds at an accelerated pace. The inflow of capital is easy, with the gap between rounds of funding being less than a year or just over a year for a few B2B players.
In Feb this year, a marketplace for on-demand construction materials Infra.Market joined the coveted unicorn club and later acquired a majority stake in Sociam Equipment Solutions, an equipment solutions platform.
Need legal assistance for your startup? Just contact us.