Manufacturing platform Zetwerk has raised $120 million in a Series D round led by US-based Greenoaks Capital and Lightspeed Venture Partners, to continue helping customers translate their digital designs into physical products via flexible manufacturing capacity from small manufacturers (SMEs). Sequoia Capital India and Kae Capital also participated in the round. The latest round brings the total equity capital raised by the company to $193 million.
Founded in 2018 by IIT alumni Amrit Acharya, Srinath Ramakkrushnan, Rahul Sharma and Vishal Chaudhary, Zetwerk is modernising the manufacturing industry using proprietary technology and project management techniques that enables growth and higher utilisation for small manufacturers, and ensures efficiency for global customers.
“Zetwerk accelerates this digital transformation with state-of-the-art productivity tools and remote project management. 2021 will see further pace of growth as companies seek to diversify their procurement to minimize disruptions and become more agile and resilient,” Acharya, Co-founder & CEO, Zetwerk.
So far, Zetwerk has forged partnerships in three key segments: precision parts, capital goods and consumer goods, serving product categories including prefabricated structures for infrastructure projects, sheet metal parts for electric vehicles, precision parts for aerospace, assembly lines for consumer durables.
Its global network includes over 250 customers and more than 2,000 suppliers spread across 15 countries in North America, Asia-Pacific and West Asia.
“Zetwerk’s operating system for manufacturing has digitized multiple supply chains end-to-end, ensuring on-time delivery and high quality standards. This has led to rapid growth in India and internationally, with the potential to quickly become one of the most important manufacturing platforms globally,” said Neil Shah, Partner at Greenoaks Capital.