Zetwork is a Bengaluru-based Business to Business start-up that bridges buyers and suppliers for manufacturing parts. The platform is an online marketplace, similar to Amazon and Flipkart but for parts of industrial machinery and equipment.
The start-up has recently announced to have raised USD 120 million in its latest Series D funding round led by US-based Venture Capital firm- Lightspeed Venture Partners and global investment firm- Greenoaks Capital.
Founded back in 2018 by Vishal Chaudhary, Amrit Acharya, Srinath Ramakkrushnan and Rahul Sharma, Zetwerk is the online marketplace solution for buyers to buy industrial machinery equipment, parts and components such as machine chassis, doors, ladders, casting and forging, services in fabrication processes etc.
The platform offers suppliers and buyers a medium to interact provide execution tools to seamlessly fulfil customer’s needs. The online marketplace connects buyers and suppliers to a nationwide network of manufacturing facilities to get custom made products for a due project or timeline.
Amrit Acharya, Co-founder, Zetwerk mentioned in an exclusive interview with TechCrunch that no supplier has a stock of inventory for such products. As soon as you get an order, you find manufacturers and workshops that can build them for the buyer.
Coming back t the funding, existing investors of the start-up, Mumbai-based sector agnostic company- Kae Capital and Bengaluru-based Sequoia Capital India also participated in the companies latest Series D financing round.
As mentioned in a report by TechCrunch, Zetwerk has till date raised total funding worth USD 193 million which concludes post-money valuation of the company at USD 650 million (approximately). All of these figures mean that the Bengaluru-based start-up is a profitable business with a unique business idea. Global investors and customers see a lot of potential in the online marketplace, especially in this digital era of mobile-first services.
Shailesh Lakhani, Managing Director at Sequoia Capital India says that Zetwerk operates in a unique market space today which has defined a new marketplace in the country. Furthermore, the company is by-far not competing with any other player in the market which gives it much more advantage to bloom as a business model.
India is a growing market for the start-up ecosystem and with the on-going digitisation wave in the country and because of the COVID-19 pandemic, people are looking for efficient online services for effortlessly get their tasks done.
Several start-ups and established companies are moving their manufacturing operations to India because of the potential it has shown in the past few months. The opportunities are growing and becoming stronger every day for the Indian economy and unique business models such as Zetwerk are coming into limelight.
Zetwerk aims to utilise these newly infused funds to broaden its technological stack and expand into newer markets and newer areas of categories.