Zetwerk to raise $100-125M in funding
- ByStartupStory | September 14, 2022
Three reliable sources confirm, Zetwerk, a business-to-business manufacturing services startup, is in discussions to raise $100-125 million in a capital round, valuing the firm a notch higher than its previous valuation of $2.7 billion.
The company has undertaken negotiations with investors such as Premji Invest, TCV Partners, and Catamaran. The round would be entirely primary fundraising, with current shareholders also contributing.
Zetwerk, founded in 2018 by Acharya, Srinath Ramakkrushnan, Rahul Sharma, and Vishal Chaudhary, assists small and medium-sized businesses in translating their digital concepts into tangible items. It operates in almost 25 different industries.
Consumer products, clothing, defense, space, and aerospace are among the industries served by the company’s production services. According to Acharya, Zetwerk’s revenue tripled to 949 crore in the fiscal year ended 31 March 2021 and is more likely to have produced equivalent growth in FY22.
Zetwerk secured $200 million in Series F fundraising from traders headed by D1 Capital and Greenoaks in December, valuing the company at $2.7 billion. The four-year-old company’s earlier $150 million fundraising round helped it into the unicorn club, which includes firms worth more than a billion dollars.
The decline of expertise shares and financial tightening by foreign central banks have made it more difficult for Indian entrepreneurs to get capital after raising file money in 2021 when a flood of low-cost cash and pandemic-fueled digitalization had sent values soaring. Geopolitical concerns, soaring inflation, and increasing interest rates have made traders extra wary of riskier investments, signaling a significant shift in the pattern this year.
Currently, Zetwerk will receive around 85% of its revenue from the Indian market and approximately 10% from its international clients.
When asked, Zetwerk denied any such event and refused to share any further information about the matter.
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