Funding boost for B2B company Zetwerk, totaling $21 million secured in the latest round
Zetwerk, a two-year-old Indian B2B marketplace for manufacturing items, has raised $62 million in its Series C funding round. The investment firm Greenoaks, based in San Francisco, led the round.
Existing investors Accel, Kae Capital, Lightspeed, and Sequoia Capital also participated in the funding round. The exact amount raised by Zetwerk in this round was not specified.
Zetwerk connects original equipment manufacturers (OEMs), engineering procurement construction (EPC) customers, manufacturing small businesses, and enterprises. The platform allows companies to diversify their global supply chain and collaborate for project execution on high time and quality.
Zetwerk serves customers in fabrication, machining, casting, and forging businesses. The marketplace sells goods like parts of a crane, doors, chassis of various machines, and ladders.
With the new funding, Zetwerk plans to expand its operations and customer base, both domestically and internationally. The company aims to scale its operations in India and help local businesses find customers overseas. It also plans to launch new categories with the fresh capital.
Zetwerk was founded in 2018 by Amrit Acharya, Srinath Ramakkrushnan, Rahul Sharma, and Vishal Chaudhary. The company operates in a sector where manufacturing contributes to 14% of India's GDP, but India lacks a supporting ecosystem for efficient project execution.
Despite the ongoing pandemic, Zetwerk is holding up well, according to a statement to an international publication. The company works with more than 150 enterprises and 2,500 small and medium-sized businesses.
The funding round marks another milestone for Zetwerk, which had already raised funds in previous rounds. The company plans to deploy the fresh capital for international expansion, aiming to establish a strong presence in global markets.
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