Debt

Debt Financing

Manufacturing solutions provider Zetwerk raises $30-M from Mars Growth Capital

Inc42  

Mars Growth Capital, a division of the fintech company Liquidity and MUFG Fund, has closed a USD 30 million debt revolver financing agreement with Bengaluru-headquartered Zetwerk. The startup, which helps companies turn their digital designs into custom-manufactured items, plans to deploy the capital to support growth in regions like Southeast Asia and marketing in the US and expand in newer areas like defense and aerospace. Zetwerk was founded in 2018 by Amrit Acharya, Srinath Ramakkrushnan, and Vishal Chaudhary. Prior to this debt round, Zetwerk had raised USD 2.2 million (INR 16 Cr) in a fresh funding round from InnoVen Capital in January 2020. In December 2019, it raised USD 32 million in its Series B funding round from investors Lightspeed and Greenoaks Capital as well as existing investors Sequoia India, Accel and Kae Capital.