PE Fund Investments
Global manufacturing platform Zetwerk to raises $67-M led by Khosla Ventures at $3-B valuation
Bengaluru-based business-to-business (B2B) e-commerce unicorn Zetwerk is raising INR 565 crore (approx USD 67 million), led by Khosla Ventures (INR 253 crore) with participation from The Schiehallion Fund (INR 169 crore). Acron Heavy Industries, AEX4 LLC, and The Chinkerpoo Family Trust will collectively contribute INR 143 crore. The round values the company at around INR 25,884 crore (approx. USD 3 Billion) post-money.The firm would issue 1,30,68,091 Series F3 compulsory convertible preferred shares (CCPS) at an issue price of INR 432.7 each to raise INR 565 crore. The proceeds will be used to meet fund requirements for its growth plans and for capital expenses.Founded by Amrit Acharya, Srinath Ramakkrushnan, Rahul Sharma, and Vishal Chaudhary, Zetwerk connects buyers and suppliers for manufacturing jobs. The firm partners with offline suppliers engaged in the fabrication, machining, casting, forging, and galvanizing of machine parts. The firm claims to be operational in over 15 countries, serving over 100 customers across more than 25 industries.The company has raised approximately USD 740 million to date, including a USD 120 million round led by Avenir Growth Capital. The company’s revenue expanded 2.3x to INR 11,448 crore in FY23.
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