Zetwerk bags Rs 160 crore funding led by Greenoaks Capital
Zetwerk, a business-to-business marketplace for manufacturing goods, has raised Rs 160 crore (approx. $21 million) in its Series C funding round led by US-based Greenoaks Capital, along with participation from other existing investors like Accel, Kae Capital, Lightspeed and Sequoia India.

The latest funding comes just six months after Zetwerk raised $32 million which was co-led by Lightspeed and Greenoaks Capital, and brings the total funding raised by the two-year-old company to around Rs 450 crore (or $62 million).

Entrackr, which first reported on Zetwerk’s Series C funding round on Wednesday, estimated that the company was valued at Rs 1,820 crore ($242 million). ET could not independently verify the valuation of the company, and Zetwerk declined to share its valuation information.

“Increasingly, companies are looking to diversify their supply chain globally and Zetwerk’s platform allows them to identify and collaborate with supplier partners to deliver projects on-time and with high quality,” said Neil Shah of Greenoaks Capital.

Amrit Acharya, co-founder and CEO of Zetwerk, told ET that the company had doubled in size since its last funding round in December 2019. He said the company now sees 30,000 parts being manufactured and shipped through the platform, with the gross merchandise value also doubling in the same period.

Zetwerk will utilise the fresh capital to enter new categories as well as expand its base internationally to get more OEMs onto its platform that are looking to manufacture parts and components in India. Acharya said that export-led manufacturing has bounced back even as local demand remains subdued due to the impact of the ongoing pandemic.

The company is also looking at taking up more complex jobs and said it has even started getting involved right from the design stage for the manufacturing some components. Zetwerk is also starting to see more traction for jobs in die casting and machining, apart from fabricating.

“At Zetwerk, we are excited to strengthen the manufacturing ecosystem further and to move forward in our mission of increasing the GDP of manufacturing, both in India and globally. We plan to utilize the funds towards international expansion, launching new categories and strengthening our product stack,” Acharya said in a statement.

Zetwerk currently works with 2,500 small manufacturers across the country, but said that it was looking to onboard only quality manufacturers rather than bring everyone onboard.

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