India’s Zetwerk valued at $1.33 billion in new funding
The new investment values Zetwerk at $1.33 billion.
Bangalore-based Zetwerk said on Monday it has raised $150 million in a Series E financing round led by New York-based D1 Capital Partners. New investors Avenir and IIFL also participated in the round, along with existing investors Greenoaks Capital, Lightspeed Venture Partners, Sequoia Capital and Accel Partners. The round also included several high-profile angel investors, including Kunal Shah of CRED and Ritesh Agarwal of OYO.
The new investment values Zetwerk at $1.33 billion, twice the $600 million-$700 million it was valued at in its Series D round in February this year.
The four-year-old startup runs a business-to-business marketplace for manufacturing items that connects OEMs (original equipment manufacturers) and EPC (engineering procurement construction) customers with manufacturing small-businesses and enterprises.
All the products it sells today — ranging from parts of cranes, doors and chassis of machines — are custom-made.
“Nobody has a stock of such inventories. You get the order, you find manufacturers and workshops that make them,” explained Amrit Acharya, co-founder and chief executive of Zetwerk, in an interview with TechCrunch earlier this year.
The startup, which in recent years has expanded to Southeast Asia and North America, said its revenue grew approximately three times in 2020-21, to $128 million.
“In a short period of time, we believe Zetwerk has become a leader in delivering fast and cost-effective manufacturing solutions to companies globally and accelerating the pace of digital transformation of a very traditional industry,” said Jeremy Goldstein of D1 Capital Partners, in a statement.
The startup plans to deploy the fresh capital to broaden its technology stack and expand to more international markets.
“Zetwerk is helping enterprises navigate the shift to digital manufacturing amidst rapidly changing global supply chains,” . Over the last year, more than 100 western companies have moved their supply chains to India via Zetwerk, across industrial and consumer products.” - Acharya, co-founder and chief executive of Zetwerk.
Zetwerk is the 25th Indian startup to become a unicorn this year, up from 11 last year, as high-profile global investors aggressively double down on promising firms in the world’s second-largest internet market.
Liquidity is the world’s leading pioneer of bespoke technology for private credit, powered by advanced infrastructure with AI at its core. It defines a new standard in capital allocation through a nexus of the sharpest minds in private credit and technology.
Proven at scale in Liquidity’s own multi-billion-dollar private credit business, this technology deploys capital faster than any firm in capital markets history—with unmatched speed, precision, and adaptability across North America, Europe, APAC and MENA.
Liquidity develops bespoke technology infrastructure for banks and asset managers, embedding intelligent decision science across the full credit lifecycle from origination to compliance, while serving visionary growth-stage and mid-market companies in 45+ sectors through its own structures and funds.
Built on trust and backed by leading institutions including MUFG Bank Ltd., Spark Capital, KeyBank, Cross River Bank, Meitav Dash, IDB Bank, and others. Visit liquidity.com.
