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Funding · Enterprise Software & IT

Zetwerk raises ₹500 Cr in pre-IPO funding from Bharat Value Fund

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Date
Company
Zetwerk
What it does
B2B contract manufacturing platform
Kind
Funding
Amount
₹500 Cr
Stage
pre-IPO
Founded
2018
Sector
Enterprise Software & IT

What they do

Zetwerk is a B2B contract manufacturing platform operating in sectors like industrial components, electronics, renewable energy equipment and consumer hardware

What happened

The company raised ₹500 Cr in a pre-IPO funding round from Bharat Value Fund, a SEBI-registered Category II AIF sponsored by the Pantomath Group

Why it matters

Zetwerk is preparing for an IPO, with SEBI having approved its IPO and the startup having filed its draft IPO papers confidentially in March

The details

  • Zetwerk raised ₹500 Cr in a pre-IPO funding round from Bharat Value Fund, a SEBI-registered Category II AIF sponsored by the Pantomath Group.
  • The round valued the manufacturing startup at a little over $3 Bn.
  • Zetwerk is preparing for an IPO, with SEBI having approved its IPO and the startup having filed its draft IPO papers confidentially in March.
  • The proposed public issue is expected to include a fresh issue of nearly $300 Mn and an offer-for-sale component worth about $150 Mn.
  • Zetwerk operates a full-stack manufacturing platform catering to sectors such as industrial components, electronics, renewable energy equipment, and consumer hardware.

The bigger picture

  • The pre-IPO funding comes as a growing number of Indian new-age tech companies are making a beeline for the stock market.
  • As per Inc42 data, seven startups have already made their D-Street debut so far this year.
  • Twenty nine startups have already filed their DRHPs with SEBI, while over 24 are in various stages of finalising their IPO plans.

About the business

  • Zetwerk operates a full-stack manufacturing platform catering to sectors such as industrial components, electronics, renewable energy equipment, and consumer hardware.
  • The startup follows a B2B contract manufacturing model, wherein enterprise customers provide product designs while Zetwerk manages vendor selection, procurement, production, quality control, logistics, and delivery through its manufacturing partner network.
  • Zetwerk claims to operate more than 20 manufacturing facilities across India, the US, Germany, Spain, Vietnam, and Mexico.
  • The startup entered the unicorn club in 2021 after raising $150 Mn.
  • To date, it has raised more than $700 Mn in funding from investors including Peak XV Partners, Lightspeed, and Mars Growth Capital.

What happens next

  • Zetwerk will proceed with its IPO, with a fresh issue of nearly $300 Mn and an offer-for-sale component worth about $150 Mn.

The deal

Type
ipo

Investors

  • Bharat Value Fund (lead) — A SEBI-registered Category II AIF sponsored by the Pantomath Group.

Founders

  • Amrit Acharya, Co-founder & Chief Executive Officer
  • Srinath Ramakkrushnan, Co-founder & Chief Operating Officer
  • Rahul Sharma, Managing Director, Precision Business

About Zetwerk

Product
B2B manufacturing startup
Customers
Manufacturers and enterprise buyers needing outsourced production
How it makes money
B2B contract manufacturing and manufacturing services fees
What sets it apart
Full-stack manufacturing platform across multiple sectors and geographies
Operations
Caters to industrial components, electronics, renewable energy equipment and consumer hardware

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