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Zetwerk raises $120 million led by Greenoaks Capital, Lightspeed Venture Partners in the Series D.



Zetwerk is a Bangalore-based manufacturing startup company founded byIIT alumni — Amrit Acharya, Srinath Ramakkrushnan, Rahul Sharma, and Vishal Chaudhary in 2018.


Zetwerk Manufacturing was set up to provide a reliable and predictable supply of high-quality manufactured products for customers across the world. Zetwerk is a preferred manufacturing and sourcing partner in India, trusted by customers across industries - Aerospace, Automotive, Oil & Gas, Energy, Cement, Steel, Sugar, Infrastructure, Material Handling, and many more.


The company functions with a global supplier network, with special expertise in India, China, and South-East Asia with a remarkable presence in 15 countries. It can handle a wide variety of manufacturing processes, starting from prototyping into production. With an employee count of 300+ Zetwerk works with 100+ customers today across India, North America, the Middle-East, and South-East Asia. Customers prefer Zetwerk because of three key reasons:


a) On-time delivery

b) High-quality products and

c) Strong project management


All three of which are enabled through their cutting-edge software and technology, developed in-house by industry experts from the top leading OEMs, EPC, and AEC customers from across the world. Zetwork’s software drives consistency and reliability across the wide variety of projects and suppliers in their network towards delivering a superior experience than what customers have experienced before from other suppliers.


The company raised $120 million in Series D funding led by Greenoaks Capital and Lightspeed Venture Partners. Other investors, including Sequoia Capital India and Kae Capital, also participated in the round. The startup will use the funding to help customers translate their digital designs into physical products through access to a wide range of fully verified, flexible manufacturing capacities from small manufacturers (SMEs). Zetwerk had last raised $21 million in Series C in July 2020, bringing the total equity capital raised to $193 million.


Speaking on the investment, Amrit Acharya, Co-founder, and 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. 2021 will see a further pace of growth as companies seek to diversify their procurement to minimize disruptions and become more agile and resilient."


The platform is increasingly adopted globally, growing 3X yearly in 2020 despite the COVID-19 impact. Commenting on the funding, Neil Shah, Partner at Greenoaks Capital, said, “We are excited to partner with Zetwerk on the next leg of its journey as it expands its value proposition globally. Zetwerk's operating system for manufacturing has digitized multiple supply chains end-to-end, ensuring on-time delivery, and high-quality standards. This has led to its rapid growth in India and internationally, with the potential to quickly become one of the most important manufacturing platforms globally.”


 

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