Zetwerk, a standout B2B manufacturing unicorn, has secured a substantial $120 million in its recent Series F funding round, with Avenir Growth Capital leading the charge and support from trusted backers such as Lightspeed, Greenoaks Capital, and Steadview Capital. This round of equity funding arrives approximately two years after Zetwerk’s previous major funding round of $210 million, with an added debt funding of around $12 million this year.
Founded back in 2018, Zetwerk functions as a platform connecting manufacturing enterprises with vendors and suppliers, facilitating the creation of custom products, industrial machine components, and various equipment. Since its inception, Zetwerk has impressively accumulated a substantial sum of nearly $674 million in funding.
Regarding its financial performance, Zetwerk has yet to unveil its financials for the current fiscal year. However, in the previous fiscal year, it reported a loss of INR 59.7 crore, signifying a 45% increase from INR 41.1 crore in the preceding year. Despite this, the company has achieved remarkable growth in operating revenue, which soared nearly sixfold, reaching INR 4,960.5 crore, compared to INR 835.4 crore in the preceding fiscal year.
Zetwerk’s enterprising expansion endeavors encompass venturing into IT hardware and electric vehicle (EV) component manufacturing. In September, the company committed INR 1,000 crore (approximately $122 million) for investments in electronics manufacturing. Reports indicate that Zetwerk is already actively involved in producing consumer electronics, such as audio devices, televisions, and smartwatches, among other offerings. Additionally, the company has made noteworthy acquisitions, with four companies added to its portfolio between July and November 2022, at a collective cost of around $50 million.
Zetwerk, the standout B2B manufacturing unicorn, has recently secured a substantial INR 120 crore (approximately $16 million) in funding for their innovative manufacturing platform. It’s incredible to see their continued success and the support they’ve received from leading investors. Sending our best wishes to the entire Zetwerk team!
~ Dr Shishir Gupta founder & CEO of StartupLanes
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