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Zetwerk gets $32 million from Lightspeed, Greenoaks Capital

​​Zetwerk is a business-to-business marketplace startup which connects large manufacturing companies with vendors and suppliers for customised products that are used as components of industrial machines and equipment.

, ET Bureau|
Updated: Dec 11, 2019, 11.51 AM IST
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Zetwerk has also raised Rs 100 crore in debt funding from a consortium of banks and non-banking financing companies
BENGALURU: Zetwerk, a platform for customised products for industrial use, has raised $32 million (Rs 225 crore) in Series-B funding from venture capital firms Lightspeed and Greenoaks Capital to fuel its expansion plans.

The funding round also saw participation from Zetwerk’s existing investors Sequoia India, Accel and Kae Capital. Besides the institutional investors, Udaan cofounder Vaibhav Gupta and Oyo chief strategy officer Maninder Gulati participated in their personal capacities.

Besides the equity infusion, Zetwerk has also raised Rs 100 crore in debt funding from a consortium of banks and non-banking financing companies. “We are investing heavily in building the entire platform in a robust and scalable manner. We have just started building a full stack offering and will need funds to go beyond discovery and acting as a marketplace, but also venture into financing, logistics, helping suppliers in purchasing materials and others,” said Amrit Acharya, CEO of Zetwerk.

Zetwerk is a business-to-business marketplace startup which connects large manufacturing companies with vendors and suppliers for customised products that are used as components of industrial machines and equipment. “We cater to our customers from different parts of the country, but only 5% of our business is around exports where customers are outside India and suppliers are here. We are trying to build that business across key markets in the US, the Middle East and South East Asia,” said Acharya.

“We believe Zetwerk is modernising the massive industrial manufacturing market with their next-generation marketplace as OEMs (original equipment manufacturers) get access to reliable and transparent industrial suppliers and manufacturers conduct sophisticated project management and grow their businesses by leveraging Zetwerk's suite of software,” said Neil Shah of Greenoaks Capital.

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