B2B marketplace Zetwerk 25th unicorn of 2021, raises $150 million – Times of India
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BENGALURU: Zetwerk Manufacturing Businesses, which connects companies with manufacturing partners in India, has raised $150 million in a funding round at a valuation of $1.3 billion, becoming the 25th startup in India to achieve unicorn status this year.
The latest funding was led by D1 Capital Partners. New investors Avenir and IIFL also participated in the round, along with existing investors Greenoaks Capital, Lightspeed Venture Partners, Sequoia and Accel.
The funding comes on top of the $120 million Zetwerk raised in February and just three years after it got its seed funding.
“Zetwerk is helping enterprises navigate the shift to digital manufacturing amidst rapidly changing global supply chains,” said Amrit Acharya, CEO of Zetwerk.
“Over the last year, more than 100 western companies have moved their supply chains to India across industrial and consumer products.” The funds will be used to build new technology, fuel expansion and marketing.
The B2B (business-to-business) marketplace for contract manufacturing has more than 600 customers and a chain of more than 4,000 suppliers in North America, Indo-Pacific, and the Middle East. Customers are across industries including oil and gas, renewable energy, consumer goods, and electric vehicles.
The latest funding was led by D1 Capital Partners. New investors Avenir and IIFL also participated in the round, along with existing investors Greenoaks Capital, Lightspeed Venture Partners, Sequoia and Accel.
The funding comes on top of the $120 million Zetwerk raised in February and just three years after it got its seed funding.
“Zetwerk is helping enterprises navigate the shift to digital manufacturing amidst rapidly changing global supply chains,” said Amrit Acharya, CEO of Zetwerk.
“Over the last year, more than 100 western companies have moved their supply chains to India across industrial and consumer products.” The funds will be used to build new technology, fuel expansion and marketing.
The B2B (business-to-business) marketplace for contract manufacturing has more than 600 customers and a chain of more than 4,000 suppliers in North America, Indo-Pacific, and the Middle East. Customers are across industries including oil and gas, renewable energy, consumer goods, and electric vehicles.
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