B2B e-commerce powerhouse Zetwerk is poised to raise $67 million (approximately INR 565 crore) in its Series F funding round.
The latest investment, led by Khosla Ventures and supported by The Schiehallion Fund, strengthens the Bengaluru-based unicorn’s position in the global manufacturing and supply chain ecosystem.
Regulatory filings reveal that Zetwerk will issue 1,30,68,091 Series F3 compulsory convertible preferred shares at INR 432.7 per share to secure this funding. Khosla Ventures is contributing INR 253 crore, while The Schiehallion Fund is investing INR 169 crore. Additional backing from Acron Heavy Industries, AEX4 LLC, and The Chinkerpoo Family Trust amounts to INR 143 crore.
The fresh capital will fuel Zetwerk’s ambitious growth plans, including scaling operations, enhancing infrastructure, and meeting general corporate requirements such as capital expenditure. With this latest round, Zetwerk’s valuation has surged to an impressive $3 billion (INR 25,884 crore).
Founded by Acharya, Srinath Ramakkrushnan, Rahul Sharma, and Vishal Chaudhary, Zetwerk has transformed the B2B manufacturing sector by connecting buyers with reliable suppliers for diverse manufacturing needs. From fabrication to forging, the company partners with offline suppliers to deliver high-quality machine parts and components.
Operating across 15+ countries, Zetwerk boasts a clientele of over 100 businesses in more than 25 industries, spanning regions like India, North America, the Middle East, and Southeast Asia. This extensive global footprint underscores its role as a leader in streamlining manufacturing workflows and enhancing supply chain efficiency.
In FY23, Zetwerk demonstrated remarkable growth, with its revenue expanding 2.3x to reach INR 11,448 crore. However, its net losses also rose by 81%, amounting to INR 109 crore. Despite this, Zetwerk’s robust performance highlights its strong market presence and operational capabilities.
The company has raised approximately $740 million to date, including a $120 million round in October 2023 led by Avenir Growth Capital and a $20 million infusion in March 2023.
Zetwerk faces stiff competition in the B2B e-commerce space from players like Infra.Market, OfBusiness, and Moglix. Yet, it remains steadfast in its mission to transform the manufacturing ecosystem. Industry insiders suggest the company is preparing for a $1 billion initial public offering (IPO) and has begun discussions with investment bankers.
With its innovative approach, global reach, and strong financial backing, Zetwerk is set to redefine the future of B2B e-commerce and manufacturing solutions. As it continues to scale, the company is well-positioned to capture new markets and drive substantial value for its stakeholders.