B2B Startup Zetwerk Touches $600 Million Valuation After Raising $120 Million In Funding

• Zetwerk has raised $120 million in funding from Lightspeed Venture Partners and Greenoaks Capital.
• In July 2020, It had raised $21 million from a group of investors, including Accel, LightSpeed, Kae Capital, others.
• The startup will use the funding to expand its business operations into other geographical areas.

Bengaluru-based business-to-business (B2B) startup Zetwerk, on February 3, announced that it has raised $120 million (or about Rs 875 crore) in a Series D funding round led by Lightspeed Venture Partners and US-based Greenoaks Capital at a valuation of $600 million.

Other existing investors Sequoia Capital and Mumbai-based Kae Capital also participated in the funding round. The startup will use the funding to expand its business operations into other geographical areas.

Additionally, It will also look forward to small merger and acquisition (M&A) opportunities to grow business inorganically, Founder Amit Acharya told ET.

The funding round comes just seven months after it raised $21 million in its Series C funding round in July 2020, which was co-led by a group of investors, including Kae Capital, Greenoaks, Sequoia Capital, Accel, and Lightspeed Venture Partners.

To date, Zetwerk has raised over $200 million in a total of five funding rounds, including debit and equity.

Founded in 2018 by IIT alumni Amrit Acharya, Srinath Ramakkrushnan, Rahul Sharma, and Vishal Chaudhary, Zetwerk (Zetwerk Manufacturing Businesses Pvt. Ltd.) provides manufacturing solutions to businesses such as fabrication, machining, casting, molding, onsite services, extrusion, stamping, forging, etc.

The startup claims to have 200+ clients across 15+ countries, including North America, Asia Pacific, and the Middle East. Some notable clients are Tata Projects, Tata Power, Tata Steel, Tenova, BHEL, DMRCL, among others.

Commenting on the funding, Amrit Acharya, Co-founder & CEO, Zetwerk, said, "The global manufacturing industry has had to swiftly adjust to the new normal, and digital solutions have become essential. Zetwerk accelerates this digital transformation with state-of-the-art productivity tools and remote project management."

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"The Zetwerk supply chain has emerged leaner, faster, stronger on multiple fronts post-Covid-19, and it is a great example of an anti-fragile system," said Vaibhav Agrawal, partner at Lightspeed.

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