ZETWERK Secures $90 Mn, Valuation Soars To $3.1 Bn: Report

ZETWERK Manufacturing Businesses has reportedly raised USD 90 million in its latest funding round led by Rakesh Gangwal and Khosla Ventures, according to media reports. This infusion of capital has pushed the company’s valuation to USD 3.1 billion, with a reported Gross Merchandise Value (GMV) of Rs 17,564 crore, or approximately USD 2.1 billion, for the fiscal year ending March 31, 2024.  

Reports suggest that the funding round included participation from new investor Baillie Gifford and existing supporters such as Greenoaks and Avenir Growth. The investment is expected to bolster ZETWERK’s expansion in key sectors, including renewables, consumer electronics, and aerospace.  

Since 2020-21, ZETWERK has diversified its offerings, branching out into consumer businesses alongside its industrial operations and entering international markets like North America, as per media accounts. These strategic shifts have positioned the company for long-term global growth.  

ZETWERK’s supply chain spans over 10,000 suppliers across India, the US, Vietnam, and Mexico, with 20% of its suppliers located outside India, enabling it to meet diverse customer needs, reports state. Furthermore, 80-85% of its GMV stems from repeat customers, underscoring the reliability of its technology-driven solutions.  

The company is said to have supported projects ranging from infrastructure like airports and bridges to consumer goods such as phones and TVs, demonstrating its versatility and growing presence across multiple industries.