Manufacturing startup Zetwerk's valuation tops $1 bn, joins unicorn club
Global manufacturing platform Zetwerk has raised $150 million in a Series E funding round led by D1 Capital Partners. The investment has taken the valuation of the firm to over $1 billion, making it the newest member of the coveted unicorn club, according to industry sources.
This is the second fundraise for the Bengaluru-based company in 2021. In February, Zetwerk raised $120 million in a Series D round led by US-based Greenoaks Capital and Lightspeed Venture Partners, to continue helping customers translate their digital designs into physical products via flexible manufacturing capacity from small manufacturers (SMEs). Sequoia Capital India and Kae Capital had also participated in the round. The round has more than doubled the valuation of Zetwerk to about $600 million.
According to the company’s regulatory filings and sourced by media platform Entrackr, Zetwerk has raised close to Rs 900 crore or $120 million in its Series E in which D1 Capital Partners has invested $50 million followed by Green Oaks and Lightspeed which put in $32 million and $22.5 million respectively.
Founded in 2018 by IIT alumni Amrit Acharya, Srinath Ramakkrushnan, Rahul Sharma and Vishal Chaudhary, Zetwerk is modernising the manufacturing industry using proprietary technology and project management techniques that enable growth and higher utilisation for small manufacturers and ensures efficiency for global customers. Zetwerk brings together the fragmented manufacturing ecosystem under a single, unified process for maximum visibility, compatibility, capacity, and quality. For large customers,
The firm has forged deep strategic partnerships across three key manufacturing categories. These include precision parts, capital goods and consumer goods. These cover a broad spectrum of manufacturing from bridges and oil rigs, electric vehicles, custom-made aerospace components, defence equipment, televisions and luxury apparel. It works with more than 2,000 suppliers and has made on-time execution and delivery of more than 1000 projects in over 15 countries.
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