Zetwerk drags Ayr Energy to US court over alleged data and trade secret violations

Zetwerk and its U.S. subsidiary Unimacts Global LLC have filed a lawsuit against Ayr Energy, alleging unauthorized use of proprietary business data and trade secrets.

Zetwerk has filed a case in the U.S. District Court of Delaware, alleging that Ayr Energy used its confidential manufacturing data, business information, and operational processes for its own benefit.

Entrackr has a copy of the lawsuit.

The lawsuit states that Ayr Energy’s actions caused commercial harm and violated confidentiality and data-sharing agreements between the two companies. Zetwerk further alleged that Ayr Energy solicited and hired several former Zetwerk executives who had access to sensitive company information. The suit also alleges that Anirudh Reddy Edla, a former senior executive in Zetwerk’s energy division, founded Ayr Energy in 2024 while he was still employed at Zetwerk.

As per the lawsuit, Zetwerk is seeking about $100 million in damages.

Zetwerk operates a global manufacturing network serving industrial and infrastructure customers across multiple sectors. Backed by General Catalyst, Ayr Energy develops and manufactures energy equipment and components for renewable and industrial applications.

Both Zetwerk and Ayr Energy have not issued public statements on the ongoing litigation. 

According to startup data intelligence platform TheKredible, Zetwerk has raised over $800 million through a mix of equity and debt funding, including a $70 million Series F round led by Khosla Ventures in December last year, which pegged its post-money valuation at $3 billion. 

While it has yet to disclose its FY25 numbers, the firm reported a 26% year-on-year increase in gross revenue to Rs 14,436 crore in FY24.