Unicorn B2B startup Zetwerk raises $120M led by Avenir Growth Capital, others

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B2B manufacturing marketplace Zetwerk has reportedly raised around $118 million in a funding round led by Avenir Growth Capital at a previous valuation of $2.7 billion.

The development comes three months after it appointed Pulkit Bhandari as its Chief Financial Officer (CFO).

According to Entrackr report, citing the company’s regulatory filings, The startup has passed a special resolution to issue 2,37,29,324 Series F2 compulsory convertible preference shares at an issue price of Rs 407.4 per share to raise Rs 966.7 crore or $118 million.

Participation of other investors

The current round also saw participation from Footpath Ventures which infused Rs 193 crore or $23.5 million, Greenoaks Capital, Steadview Capital, D1 Capital, and Lightspeed which cumulatively invested Rs 156 crore in the round, the report added.

Zetwerk’s $210M funding round

The equity round comes almost two years after it raised $210 million in a Series F funding round in December 2021 from US-based Greenoaks Capital, which reportedly valued Zetwerk at about $2.7 billion.

The Series F round also saw participation from investors, including ICONIQ Strategic Partners, D1 Capital Partners, Steadview Capital, Mauritius, Avenir, and Lightspeed Venture Partners, among others.

So far, the startup has raised over $770 million in funding till date from various investors.

What does Zetwerk do?

Founded in 2018 by a team of six entrepreneurs: Amrit Acharya, Balaraman Ramakkrushnan, Rahul Sharma, Srinath Ramakkrushnan, Vishal Chaudhary, and Ankit Fatehpuria.

The startup offers a managed marketplace for contract manufacturing, assisting global industrial and consumer enterprises in having their products manufactured by a worldwide network of small-scale manufacturers.

Presently, The startup has a presence in over 15 countries and serves over 100 customers in India, North America, the Middle East, and the SEA region.

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Airtel launches integrated omni-channel cloud platform for CCaaS

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We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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Unicorn B2B startup Zetwerk raises $120M led by Avenir Growth Capital, others

B2B manufacturing marketplace Zetwerk has reportedly raised around $118 million in a funding round led by Avenir Growth Capital at a previous valuation of $2.7 billion.

The development comes three months after it appointed Pulkit Bhandari as its Chief Financial Officer (CFO).

According to Entrackr report, citing the company’s regulatory filings, The startup has passed a special resolution to issue 2,37,29,324 Series F2 compulsory convertible preference shares at an issue price of Rs 407.4 per share to raise Rs 966.7 crore or $118 million.

Participation of other investors

The current round also saw participation from Footpath Ventures which infused Rs 193 crore or $23.5 million, Greenoaks Capital, Steadview Capital, D1 Capital, and Lightspeed which cumulatively invested Rs 156 crore in the round, the report added.

Zetwerk’s $210M funding round

The equity round comes almost two years after it raised $210 million in a Series F funding round in December 2021 from US-based Greenoaks Capital, which reportedly valued Zetwerk at about $2.7 billion.

The Series F round also saw participation from investors, including ICONIQ Strategic Partners, D1 Capital Partners, Steadview Capital, Mauritius, Avenir, and Lightspeed Venture Partners, among others.

So far, the startup has raised over $770 million in funding till date from various investors.

What does Zetwerk do?

Founded in 2018 by a team of six entrepreneurs: Amrit Acharya, Balaraman Ramakkrushnan, Rahul Sharma, Srinath Ramakkrushnan, Vishal Chaudhary, and Ankit Fatehpuria.

The startup offers a managed marketplace for contract manufacturing, assisting global industrial and consumer enterprises in having their products manufactured by a worldwide network of small-scale manufacturers.

Presently, The startup has a presence in over 15 countries and serves over 100 customers in India, North America, the Middle East, and the SEA region.

Also Read:

Airtel launches integrated omni-channel cloud platform for CCaaS

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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