The startup said that the fresh proceeds will fuel its expansion in areas such as renewables, consumer electronics, and aerospace

In March, the B2B marketplace raised $20 Mn in a funding round led by Indigo cofounder Rakesh Gangwal

Founded in 2018, Zetwerk connects vendors and suppliers with manufacturing companies for procuring industrial machine components

Update | December 19, 11:54 PM

A week after Inc42 reported that Zetwerk received a nod from its board to raise INR 565.5 Cr (around $66.6 Mn), the B2B marketplace said that it has secured close to $70 Mn. 

The fundraise pushed the startup’s valuation to the $3.1 Bn mark from $2.7 Bn during its last fundraise in 2023.

In a statement, the startup said that the fresh proceeds will fuel its expansion in areas such as renewables, consumer electronics, and aerospace.

“Zetwerk has quickly become a leading manufacturing marketplace that gives customers options around the world to build in any arena from industrials and consumer electronics to aerospace and defense. We are excited to partner with Zetwerk in this next phase of global growth,” Khosla Ventures’ Jai Sajnani said. 

The startup said that it has raised $90 Mn in funding in 2024 so far, led by Indigo cofounder Rakesh Gangwal and Khosla Ventures. Besides, the year also saw UK-based Baillie Giord join its cap table and existing backers Greenoaks and Avenir Growth infuse more funds. 

It is pertinent to note that the B2B marketplace raised $20 Mn in a round led by Gangwal in March this year. 

Meanwhile, the startup also said that it achieved a gross merchandise value (GMV) of INR 17,564 Cr (nearly $2.1 Bn) in the fiscal year 2023-24 (FY24). 

Cofounder and CEO Amrit Acharya told PTI that Zetwerk plans to go public in the next 12-18 months. 

“We are thinking about going public. I would say it’s still early for us, but 12 to 18 months is what we are thinking. It may go up or down depending on various other dynamics. Towards that process, we are starting a lot of work. We have not yet appointed banks, but we will do that soon,” Acharya said. 

Original Story | December 12, 02:47 PM

B2B Ecommerce giant Zetwerk has received approval from the board to raise INR 565.5 Cr (around $66.6 Mn) in a funding round to be led by Khosla Ventures, along with participation from The Schiehallion Fund and others.

Of the total amount, about INR 253.2 Cr will be invested by Khosla Ventures, while INR 169 Cr will be infused by The Schiehallion Fund, the company said in a filing.

As per the filing, Zetwerk’s board passed a resolution to issue 1,30,68,091 Series F3 compulsory convertible preferred shares at an issue price of INR 432.7 each. 

This comes close on the heels of the company looking to raise $1 Bn via initial public offering (IPO). It had already initiated discussions with investment banker JP Morgan for its potential IPO.

It was earlier reported that the company was planning to invest INR 500 Cr over the next two years to expand its manufacturing capacity for the renewables segment, while also looking to expand in the offshore wind segment in the US and Europe.

Founded in 2018 by Ramakkrushnan, Amrit Acharya, Rahul Sharma, and Vishal Chaudhary, Zetwerk connects vendors and suppliers with manufacturing companies for procuring industrial machine components. 

It became a unicorn in 2021. The company has raised a total funding of over $700 Mn till date and counts the likes of Peak XV Partners, Lightspeed, Mars Growth Capital, among others, as its backers.

Meanwhile, Earlier this year, the startup announced its foray into IT hardware and electric vehicle (EV) component manufacturing. Additionally, it set aside INR 1,000 Cr ($122 Mn) to invest in electronics manufacturing.

Notably, Zetwerk indirectly competes against the likes of Moglix, OfBusiness, among others. 

It is pertinent to note that OfBusiness is also eyeing a $1 Bn IPO in the second half of 2025. 

The company has appointed five investment banks, including Axis Capital, Morgan Stanley, JPMorgan, Citigroup and Bank of America

The startup said that the fresh proceeds will fuel its expansion in areas such as renewables, consumer electronics, and aerospace

In March, the B2B marketplace raised $20 Mn in a funding round led by Indigo cofounder Rakesh Gangwal

Founded in 2018, Zetwerk connects vendors and suppliers with manufacturing companies for procuring industrial machine components

Update | December 19, 11:54 PM

A week after Inc42 reported that Zetwerk received a nod from its board to raise INR 565.5 Cr (around $66.6 Mn), the B2B marketplace said that it has secured close to $70 Mn. 

The fundraise pushed the startup’s valuation to the $3.1 Bn mark from $2.7 Bn during its last fundraise in 2023.

In a statement, the startup said that the fresh proceeds will fuel its expansion in areas such as renewables, consumer electronics, and aerospace.

“Zetwerk has quickly become a leading manufacturing marketplace that gives customers options around the world to build in any arena from industrials and consumer electronics to aerospace and defense. We are excited to partner with Zetwerk in this next phase of global growth,” Khosla Ventures’ Jai Sajnani said. 

The startup said that it has raised $90 Mn in funding in 2024 so far, led by Indigo cofounder Rakesh Gangwal and Khosla Ventures. Besides, the year also saw UK-based Baillie Giord join its cap table and existing backers Greenoaks and Avenir Growth infuse more funds. 

It is pertinent to note that the B2B marketplace raised $20 Mn in a round led by Gangwal in March this year. 

Meanwhile, the startup also said that it achieved a gross merchandise value (GMV) of INR 17,564 Cr (nearly $2.1 Bn) in the fiscal year 2023-24 (FY24). 

Cofounder and CEO Amrit Acharya told PTI that Zetwerk plans to go public in the next 12-18 months. 

“We are thinking about going public. I would say it’s still early for us, but 12 to 18 months is what we are thinking. It may go up or down depending on various other dynamics. Towards that process, we are starting a lot of work. We have not yet appointed banks, but we will do that soon,” Acharya said. 

Original Story | December 12, 02:47 PM

B2B Ecommerce giant Zetwerk has received approval from the board to raise INR 565.5 Cr (around $66.6 Mn) in a funding round to be led by Khosla Ventures, along with participation from The Schiehallion Fund and others.

Of the total amount, about INR 253.2 Cr will be invested by Khosla Ventures, while INR 169 Cr will be infused by The Schiehallion Fund, the company said in a filing.

As per the filing, Zetwerk’s board passed a resolution to issue 1,30,68,091 Series F3 compulsory convertible preferred shares at an issue price of INR 432.7 each. 

This comes close on the heels of the company looking to raise $1 Bn via initial public offering (IPO). It had already initiated discussions with investment banker JP Morgan for its potential IPO.

It was earlier reported that the company was planning to invest INR 500 Cr over the next two years to expand its manufacturing capacity for the renewables segment, while also looking to expand in the offshore wind segment in the US and Europe.

Founded in 2018 by Ramakkrushnan, Amrit Acharya, Rahul Sharma, and Vishal Chaudhary, Zetwerk connects vendors and suppliers with manufacturing companies for procuring industrial machine components. 

It became a unicorn in 2021. The company has raised a total funding of over $700 Mn till date and counts the likes of Peak XV Partners, Lightspeed, Mars Growth Capital, among others, as its backers.

Meanwhile, Earlier this year, the startup announced its foray into IT hardware and electric vehicle (EV) component manufacturing. Additionally, it set aside INR 1,000 Cr ($122 Mn) to invest in electronics manufacturing.

Notably, Zetwerk indirectly competes against the likes of Moglix, OfBusiness, among others. 

It is pertinent to note that OfBusiness is also eyeing a $1 Bn IPO in the second half of 2025. 

The company has appointed five investment banks, including Axis Capital, Morgan Stanley, JPMorgan, Citigroup and Bank of America