Zetwerk increases $210 mn from Greenoaks Capital, others at $2.7 bn valuation
Business-to-business (B2B) manufacturing services marketplace Zetwerk Manufacturing Business Pvt Ltd has raised about $210 million as a part of its Series F funding round, led by US-based Greenoaks Capital. Greenoaks Capital alone invested 543.8 crore ($72.5 million) in the funding round investors like ICONIQ Strategic Partners, D1 Capital Partners, Steadview Capital Mauritius, Avenir Zetwerk Investors, Lightspeed Venture Partners others participated in the funding round.
The Bengaluru-based company was founded in 2018 by Amrit Acharya, Srinath Ramakkrushnan, Rahul Sharma and Vishal Chaudhary.
According to VCCircle estimates, the fundraise values Zetwerk at $2.68 billion. Zetwerk allotted 41,816 Series F Compulsorily Convertible Preference Shares (CCPS) at an issue price of 3,75,128, for a total consideration of a little more than 1,568 crore ($209.51 million).
The company will be using the funds for meeting Zetwerk’s fund requirements. The company will also use funds for growth and general corporate purposes, including capital expenditure, the regulatory filing showed.
The startup says to have forged partnerships in segments such as precision parts, capital goods and consumer goods.