By Manish Singh
Zetwerk, an Indian business-to-business marketplace for manufacturing items, has raised $21 million in a new financing round as it looks to scale its operations in the nation and help local businesses find customers overseas.
San Francisco-based investment firm Greenoaks led the two-year-old Indian startup’s Series C financing round. Existing investors Accel, Kae Capital, Lightspeed and Sequoia Capital India also participated in the round, which brings Zetwerk’s to-date raise to $62 million.
Founded by Amrit Acharya, Srinath Ramakkrushnan, Rahul Sharma and Vishal Chaudhary in 2018, Zetwerk connects OEMs (original equipment manufacturers) and EPC (engineering procurement construction) customers with manufacturing small-businesses and enterprises.
Unlike the more typical e-commerce firms, Zetwerk sells goods such as parts of a crane, doors, chassis of different machines and ladders. The startup operates to serve customers in fabrication, machining, casting and forging businesses.
These are all custom-made products. “Nobody has a stock of such inventories. You get the order, you find manufacturers and workshops that make them. Our customers are companies that are in the business of building infrastructure,” said Acharya, who serves as Zetwerk’s chief executive.
“We index these small workshops and understand the …read more
Source: Tech Crunch