Zetwerk, a B2B ecommerce unicorn, secured $120 million in its Series F funding round, which was led by Avenir Growth Capital and included previous backers Lightspeed, Greenoaks Capital, and Steadview Capital.
According to a regulatory filing with the Registrar of Companies, the board of directors at Zetwerk approved a special resolution to issue 2,37,29,324 Series F2 compulsory convertible preference shares at an issue value of Rs 407.4 per share in order to raise Rs 966.7 crore, or $118 million, as per reported by Entrackr.
Almost two years have passed since Zetwerk raised $210 million in a round led by Greenoaks in December 2021, when it was valued at $2.7 billion. In March, the B2B unicorn raised INR 100 Cr (about $12 Mn) in debt financing.
Leading companies in the precision parts, capital goods, and consumer goods categories count on Zetwerk as a partner. The company provides a full range of manufacturing services, from mass production to custom-made components, from quality certification to inventory and supply chain management. The news was first reported by Entrackr.
Zetwerk is a manufacturing services platform that links manufacturing businesses with vendors and suppliers. It was established in 2018 by Amrit Acharya, Srinath Ramakkrushnan, Rahul Sharma, and Vishal Chaudhary.
Zetwerk is a universal factory for high-quality production, globally competitive costs, and best-in-class lead times, regardless of the category, product, scale, or geography, with a virtually infinite range of production capacities and capabilities.