Zetwerk raises $32 Mn from Lightspeed and Greenoaks

Zetwerk, a business-to-business platform for custom manufacturing, has raised $32 million in a Series B funding round from Lightspeed and Greenoaks Capital.

This investment round also witnessed the participation of existing investors, including Sequoia India, Accel, and Kae Capital. Udaan co-founder Vaibhav Gupta and OYO's Chief Strategy Officer Maninder Gulati also participated.

Apart from this equity infusion, the firm has also secured Rs 100 crore in debt funding from a consortium of banks and non-banking financing companies (NBFCs).

With the infusion of fresh funds, Bengaluru-based Zetwerk is planning to expand its platform by venturing into financing, logistics and in helping suppliers in purchasing materials.

Besides, the company is also looking to grow its team from 150 employees to a 200-member team by the end of this ongoing financial year, said an ET report.

The new capital for the company has come around eight months after it raised $9 million in a Series A round from Accel Partners, Sequoia, and Kae Capital in March this year.

Launched in 2018 by Amrit Acharya, Srinath Ramakkrushnan, and Vishal Chaudhary, Zetwerk is an online marketplace that connects buyers and suppliers for manufacturing jobs. It partners with offline suppliers who are engaged in fabrication, machining, casting, forging and galvanizing of machine parts.

Zetwerk is also known to work with mid-to-large engineering companies such as Jindal, BGR energy, Embassy Group, among others and presently serves OEM, EPC, and Design & Build Companies across a wide array of industries.

According to the company’s website, it delivers 15,000 metric tonnes of materials every month and has executed over 500 custom projects.

Zetwerk competes with Aperza, Negotiatus, Active Network, and LevaData in this segment.