Manufacturing Platform Zetwerk Raises $120 Million from Greenoaks & Lightspeed
Online marketplace for manufacturing, Zetwerk has raised $120 million in Series D funding round led by Greenoaks Capital and Lightspeed Venture Partners. The round also saw participation from Sequoia Capital India and Kae Capital. The Bangalore based startup had earlier raised $21 million in July 2020. The fresh infusion of capital will be utilized by Zewerk towards helping customers translate their digital designs into physical products through access to a wide range of fully verified, flexible manufacturing capacity from small manufacturers (SMEs).
Founded in 2017, Zewerk facilitates access to high-quality machine parts and infrastructure to customers across 15 countries including India, North America, Middle-East and South-East Asia. The company handles a wide variety of manufacturing processes, starting from prototyping to production in three key segments — precision parts, capital goods, and consumer goods.
Speaking about the investment, Amrit Acharya, Co-founder & CEO, Zetwerk, said, “The global manufacturing industry has had to swiftly adjust to the new normal, and digital solutions have become essential. Zetwerk accelerates this digital transformation with state-of-the-art productivity tools and remote project management. 2021 will see a further pace of growth as companies seek to diversify their procurement to minimise disruptions and become more agile and resilient."
Zetwork operates across various industry verticals including Aerospace, Automotive, Oil & Gas, Energy, Cement, Steel, Sugar, Infrastructure, Material Handling, and many more.
Commenting on the funding, Neil Shah, Partner at Greenoaks Capital, said, “We are excited to partner with Zetwerk on the next leg of its journey as it expands its value proposition globally. Zetwerk's operating system for manufacturing has digitised multiple supply chains end-to-end, ensuring on-time delivery, and high-quality standards. This has led to its rapid growth in India and internationally, with the potential to quickly become one of the most important manufacturing platforms globally.”
Founded in 2017, Zewerk facilitates access to high-quality machine parts and infrastructure to customers across 15 countries including India, North America, Middle-East and South-East Asia. The company handles a wide variety of manufacturing processes, starting from prototyping to production in three key segments — precision parts, capital goods, and consumer goods.
Speaking about the investment, Amrit Acharya, Co-founder & CEO, Zetwerk, said, “The global manufacturing industry has had to swiftly adjust to the new normal, and digital solutions have become essential. Zetwerk accelerates this digital transformation with state-of-the-art productivity tools and remote project management. 2021 will see a further pace of growth as companies seek to diversify their procurement to minimise disruptions and become more agile and resilient."
Zetwork operates across various industry verticals including Aerospace, Automotive, Oil & Gas, Energy, Cement, Steel, Sugar, Infrastructure, Material Handling, and many more.
Commenting on the funding, Neil Shah, Partner at Greenoaks Capital, said, “We are excited to partner with Zetwerk on the next leg of its journey as it expands its value proposition globally. Zetwerk's operating system for manufacturing has digitised multiple supply chains end-to-end, ensuring on-time delivery, and high-quality standards. This has led to its rapid growth in India and internationally, with the potential to quickly become one of the most important manufacturing platforms globally.”
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