Zetwerk, a Bengaluru-based manufacturing services platform has recently raised $2.2million in a fresh funding round from InnoVen Capital. The company was founded by Amrit Acharya, Srinath Ramakkrushnan and Vishal Chaudhary.
The company specializes in connecting manufacturing companies with vendors and suppliers for customized products. On the other hand, the company also has a demand model where it works with Original Equipment Manufacturing companies from Southeast Asia who require procurement of custom products and machine parts that are not available off-the-shelf in the market.
Earlier, in December last year, Zetwerk had raised $32million in Series B round equity funding from new and existing investors. Zetwerk is backed by Lightspeed, Greenoaks Capital, Sequoia India, Accel and Kae Capital. Other than this, the company had raised another ₹100crore debt funding from a consortium of banks and non-banking financing companies.
With the new funds, the company is planning to deepen its tech and manufacturer capabilities and widening supplier base.
Zetwerk currently claims to have 1,500 SMEs and 100 enterprises on its platform. Ashish Sharma, CEO of InnoVen Capital India said, “This is a large addressable market, with tremendous potential to organize the space and provide more efficient solutions to OEMs & EPCs for custom engineering jobs.”
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