The business-to-business e-commerce unicorn Zetwerk is raising $565 crore (roughly $67 million) in funding, led by Khosla Ventures and featuring The Schiehallion Fund. This represents an additional investment in the Bengaluru-based companies ongoing Series F round.

A special resolution has been passed by the board at Zetwerk to issue 1,30,68,091 Series F3 compulsory convertible preferred shares at an issue price of Rs. 432.7 each to raise Rs. 565 crore.

The Schiehallion Fund will contribute Rs. 169 crores, while Khosla Ventures will contribute Rs. 253 crores. The Chinkerpoo Family Trust and Acron Heavy Industries will contribute Rs. 143 crores to the investment.

These funds will be used by the firm to meet its financial requirements for its expansion plans and general corporate objectives, including but not limited to investment expenditures, according to the filing.

The firm has raised close to $740 million so far, including a $120 million round led by Avenir Growth Capital. This development was exclusively reported in October 2023. It also raised $20 million in March this year, raising $20 million.

TheKredible, a start-up data intelligence platform, estimates the firm's worth at around Rs. 25,884 crore (roughly $3 billion) after allotment.

The three-year-old Zetwerk was started by Acharya, Srinath Ramakkrushnan, Rahul Sharma, and Vishal Chaudhary. The organization collaborates with offline suppliers involved in the fabrication, machining, casting, forging, and galvanizing of machine components.

Over 100 customers across more than 25 industries in India, North America, Middle East, and Southeast Asia are said to be served by it, which is operational in over 15 countries.

The firm hasn't yet submitted its yearly financial statements for the current fiscal year. Its size grew by 2.3x to Rs. 11,448 crores in FY23, while its losses rose by 81% to Rs. 109 crore.