IBEF: August 23, 2021
D1 Capital Partners led a US$ 150 million Series E fundraising round for global manufacturing platform Zetwerk. According to industry insiders, the investment has increased the firm's worth to above US$ 1 billion, making it the newest member of the coveted unicorn club.
This is the Bengaluru-based company's second fundraising in 2021. Zetwerk secured US$ 120 million in a Series D investment headed by Greenoaks Capital and Lightspeed Venture Partners in February to continue assisting clients in translating their digital designs into real goods using small manufacturers' (SMEs) flexible manufacturing capability. The round was also attended by Sequoia Capital India and Kae Capital. Zetwerk's valuation has more than quadrupled to over US$ 600 million as a result of the financing.
According to regulatory records obtained by media portal Entrackr, Zetwerk raised close to Rs. 900 crore (US$ 120 million) in its Series E round, with D1 Capital Partners investing US$ 50 million, Green Oaks investing US$ 32 million, and Lightspeed investing US$ 22.5 million.
Zetwerk, which was founded in 2018 by IIT alumni Mr. Amrit Acharya, Mr. Srinath Ramakkrushnan, Mr. Rahul Sharma, and Mr. Vishal Chaudhary, is modernising the manufacturing industry through proprietary technology and project management techniques that enable small manufacturers to grow and increase utilisation while ensuring efficiency for global customers. For optimum visibility, compatibility, capacity, and quality, Zetwerk unifies the fragmented production ecosystem into a single, unified process. For major clients,
In three major manufacturing sectors, the company has formed strong strategic alliances. Precision parts, capital products, and consumer items are among them. These include anything from bridges and oil rigs to electric vehicles, custom-made aircraft components, defence equipment, TVs, and high-end clothing. It works with over 2,000 suppliers and has completed and delivered over 1000 projects on schedule in over 15 countries.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.