Zetwerk, which is reportedly looking to make its IPO debut soon, has raised an additional $70 million (~ ₹590 crore) in its ongoing Series F round. The fresh infusion is led by Silicon Valley-based Khosla Ventures and Indigo airline founder Rakesh Gangwal. Interestingly, reports suggest that UK-based fund Baillie Gifford also joined as a new investor. With this round, the total funding in this round has reached $100Mn. The new funding was first reported by Entrackr.
The B2B e-commerce unicorn now stands at a $3Bn valuation after this investment, up from $2.7 billion in its last round in 2023. With this fresh funding, the startup will scale its core business areas such as renewables, consumer electronics, and aerospace. In addition, the company may also expand into other geographies.
Zetwerk – founded in 2018 – functions as a managed marketplace for contract manufacturing. The company collaborates with industrial and consumer businesses to manufacture their products via a global network of small-scale manufacturers.
Co-founded by Amrit Acharya, Srinath Ramakrishnan, Rahul Sharma, and Vishal Chaudhary, the startup serves industries including automotive, aerospace, and defense, and recently expanded into the IT hardware sector by starting laptop production in 2023.
Interestingly, Zetwerk has recently secured approval for its 60kW and 120kW DC fast chargers, which will be delivered to Indian Oil Corporation Limited (IOCL) and private charge point operators. This development clearly highlights the company’s growing role in the electric vehicle sector.
Zetwerk’s Upcoming Plans
Moreover, Zetwerk revealed plans last year to invest ₹1,000 crore to strengthen its consumer electronics manufacturing capabilities, broaden its product offerings, and expand its manufacturing operations beyond northern India. For now, its operations extend across multiple regions including North America, Southeast Asia, Australia, New Zealand, and the Middle East.
The company currently serves over 1,800 active customers and its revenue reportedly reached ₹15,000 crore in FY24. The company has secured approximately $740 million (~ ₹6,200 crore) in funding so far.
As mentioned earlier, the Indian supply chain startup is reportedly gearing up for an initial public offering to raise $1 billion and has initiated talks with investment bankers. The potential listing could value the company at multiple billion dollars.
