Indian B2B Startup Zetwerk Raises US$21M Series C Led By Greenoaks Capital

Zetwerk will use the latest investments to launch new categories, strengthen its product stack, and global expansion

Indian business-to-business (B2B) marketplace for manufacturing items, Zetwerk Manufacturing Businesses Pvt. Ltd has raised US$21 million in a Series C funding round, led by San Francisco-based global venture capital firm Greenoaks Capital, according to a company statement released on July 1. This is Zetwerk’s third fundraise in seven months.

Returning investors who participated in the round include Ola and Swiggy backer Accel,  Kae Capital,  Lightspeed, and Sequoia Capital India, according to the company statement.

The startup has been raising back-to-back funding rounds since December 2019. After raising $32 million in a Series B funding round in December, Zetwerk raised another $2.2 million from InnoVen Capital in January. With the latest capital injection, the two-year-old startup’s total funding stands at $62 million.

The fresh funds will be used to launch new categories, strengthen the startup’s product stack, and expand the startup’s domestic and international presence.

Founded in 2018 by former ITC employees Amrit Acharya, Srinath Ramakkrushnan, and Vishal Chaudhary, along with ex-Blackbuck employee Rahul Sharma, the startup provides global end-to-end manufacturing supply chain solutions.

Zetwerk works with global original equipment manufacturers (OEMs) and engineering procurement construction (EPCs) companies and fulfills their manufacturing requirements for customized components and assemblies.

As a supplier, Zetwerk assumes full responsibility for high-quality production, on-time delivery, project management, and even quality control, without owning manufacturing facilities. The startup also offers Zetwerk Managed Inventory (ZMI) stocking and inventory management in local warehouses with a lead time of less than 5 days for production parts, according to the company’s website.

Zetwerk typically sells customized manufacturing parts for cranes, doors, and chassis of different machines and ladders, to businesses engaged in fabrication, forging, construction and casting.

“Nobody has a stock of such inventories. You get the order, you find manufacturers and workshops that make them. Our customers are companies that are in the business of building infrastructure,” said Zetwerk CEO Acharya.

“We index these small workshops and understand the kinds of products they have built before. These indexes help bigger companies discover and work with them,” he added.

Zetwerk allows businesses to track the progress of their order, from manufacturing to shipping. According to the startup, the manufacturing and shipping of such products usually takes 2 to 3 months, making it necessary to closely monitor the progress of the orders at each step of the process.

The startup has connected several Indian manufacturers with global clients, works with over 150 enterprises and 2,500 small and medium-sized businesses (SMEs), and delivers more than 30,000 parts each month, registering a growth of 100% since December 2019, Techcrunch reported.

Zetwerks clients include renowened names in the industry like Larsen and Toubro, CleanMax Solar, Sterling and Wislon, and Amphenol.

Accel Partner Prayank Swaroop said, “Zetwerk is bringing Indian manufacturing to the global stage, and I’m proud to be part of their story.”

According to Neil Shah, responsible for Venture and Growth at Greenoaks, Zetwerk has developed a “unique software to enable an enormous global manufacturing marketplace connecting OEMs and EPCs with industrial suppliers.”

“Increasingly, companies are looking to diversify their supply chain globally and Zetwerk’s platform allows them to identify and collaborate with supplier partners to deliver projects on-time and with high quality,” he added.

According to the Global Manufacturing Competitiveness Index published by Deloitte, India is expected to become the fifth largest manufacturing country in the world by the end of 2020, and the government aims to increase the manufacturing sector’s share in India’s GDP to 25% by 2022.

Currently, the sector accounts for 14% of the nation’s GDP, and yet, the country lacks a supporting ecosystem to execute projects more efficiently, said Acharya.

The startup has also launched Zetwerk Healthcare, to help connect buyers with manufacturers, sellers and resellers of PPE products, COVID-19 test kits, and other medical equipments, to fight against the global pandemic.

SHARE THIS STORY

Share on facebook
Share on twitter
Share on linkedin
Share on email

RELATED POSTS

Top Three Weirdest Mobile Game Advertisements

Top Three Weirdest Mobile Game Advertisements

Whether on YouTube or Instagram, I’m sure you all must have seen at least one mobile game advertisement. One common trope with today’s mobile game advertisements is that they tend to mislead their audience.
You might have come across these weird ads while scrolling through social media: In the ad for the strategy game “Game of Sultans”, a sultan is fat-shaming his daughter; in the match-three puzzle game “Lily’s Garden” ad, women use washing machines as vibrators.

The Maximalist Fashion Trend Where Did It Come From and Where Is It Going

The Maximalist Fashion Trend: Where Did It Come From and Where Is It Going?

If you Google “maximalist fashion”, you will be swamped with dressing guides dedicated to this “the more, the better” trend published by leading fashion magazines in 2022. Rapidly gaining popularity in the last couple of years, maximalist styles are breaking out of the runway of an Haute Couture fashion show, a red carpet event or a K-pop performance to conquer streets in high fashion neighborhoods.

How Is Technology Influencing the Food and Beverage Industry

How Is Technology Influencing the Food and Beverages Industry?

Food waste, sustainability and animal cruelty are some of the biggest challenges facing the food and beverage (F&B) industry nowadays. Like any other sector, the industry is dipping its toe into technology and innovations to seek solutions. While we are already seeing more food tech solutions in our everyday lives, like plant-based meat alternatives and food waste management startups.

3 Innovations for a Cleaner Environment You Never Heard Of

3 Innovations for a Cleaner Environment You Never Heard Of

Innovation in clean energy, sustainable infrastructure and eco-friendly solutions to environmental hazards are the need of the hour. The burden on the world’s natural recourses is immense, and it is high time we focus on renewability and diversification. While we are only scratching the tip of the iceberg, here are three innovations working to create an environment-friendly future.