Zetwerk, a Bangalore-based B2B marketplace for manufacturing products, has raised $120 million in a Series D funding round led by Greenoaks Capital and Lightspeed. The funding round also saw participation from Sequoia Capital India, Kae Capital, and Accel. With this latest round of funding, Zetwerk has raised a total of $193 million to date.
Zetwerk was founded in 2018 by Amrit Acharya, Srinath Ramakkrushnan, and Vishal Chaudhary. The company aims to digitize the manufacturing industry by connecting small and medium-sized enterprises (SMEs) with large manufacturers. The platform allows SMEs to access a wide range of manufacturing services, including design, engineering, fabrication, and assembly.
Zetwerk’s Growth Trajectory
Zetwerk has seen tremendous growth since its inception. The company has over 500 customers across industries such as oil and gas, power, renewable energy, and construction. Zetwerk’s revenue has grown 4x in the past year, and the company is on track to achieve $1 billion in annualized gross merchandise value (GMV) by 2025.
One of the reasons for Zetwerk’s success is its ability to provide end-to-end solutions for its customers. The company has a team of engineers who work closely with customers to design and develop products. Zetwerk also has a network of over 2,000 suppliers who can fabricate and assemble products at scale.
Zetwerk’s Plans for the Future
With the latest funding round, Zetwerk plans to expand its operations globally. The company is already present in India, Southeast Asia, and the Middle East. Zetwerk plans to use the funds to enter new markets such as Europe and North America.
Zetwerk also plans to invest in technology to improve its platform’s user experience. The company plans to use artificial intelligence (AI) and machine learning (ML) to automate processes and improve efficiency. Zetwerk also plans to invest in data analytics to provide customers with insights into their supply chain.
Greenoaks Capital and Lightspeed’s Investment in Zetwerk
Greenoaks Capital and Lightspeed are two of the most prominent venture capital firms in the world. Greenoaks Capital has previously invested in companies such as Deliveroo, OYO, and Stripe. Lightspeed has invested in companies such as Snapchat, Affirm, and Nutanix.
The investment by Greenoaks Capital and Lightspeed is a testament to Zetwerk’s potential. The two firms believe that Zetwerk has the potential to disrupt the manufacturing industry and become a global leader in the space.
Zetwerk’s latest funding round is a significant milestone for the company. The funds will allow Zetwerk to expand its operations globally and invest in technology to improve its platform’s user experience. The investment by Greenoaks Capital and Lightspeed is a testament to Zetwerk’s potential, and the company is well-positioned to become a global leader in the manufacturing industry.