Bangalorebased Zetwerk b2b 120m Greenoaks Capital
Bangalore-based B2B startup Zetwerk has raised a whopping $120 million in a Series C round led by Greenoaks Capital, a US-based growth fund. The round, which was announced on Monday, was also joined by the company’s existing investors Lightspeed Ventures and Kae Capital.
Founded in 2018 by Amrit Acharya, Rohit Mahajan, and Srinath Ramakkrushnan, Zetwerk is an online platform that connects manufacturing companies with suppliers. The platform simplifies the process of finding and ordering parts and components for products from across the manufacturing industry.
Zetwerk’s platform operates on a B2B model, where it offers a suite of services to help businesses find and purchase components from a network of over 6,000 verified suppliers. It works with a range of industries, from consumer electronics to consumer goods and automotive, and helps customers streamline their procurement process.
The platform also helps companies reduce their procurement costs and time to market by offering a wide range of services such as supplier discovery, product comparison, and order tracking.
The company, which has raised a total of $168 million to date, is looking to use the fresh capital to venture into new markets, expand its product offering and scale its operations. It will also look to hire more talent and invest in technology to build a robust platform.
Commenting on the investment, Amrit Acharya, Co-founder and CEO of Zetwerk, said: “We are delighted to have the support of Greenoaks and our existing investors in this round. This investment will help us accelerate our mission to transform the manufacturing landscape and make it more efficient. We are confident that our cutting-edge technology and deep understanding of the manufacturing industry will help us create significant value for our customers.”
The news comes at an opportune time for the B2B startup, which has seen a surge in demand for its services due to the pandemic. The platform has seen a tenfold increase in its order volume over the past year, with more than 5,000 active customers. The company has also grown its team to more than 200 employees.
Greenoaks Capital’s Managing Partner, Ajay Agarwal, said: “We are excited to partner with Zetwerk, a company that has built an impressive platform to help manufacturers source components with ease and efficiency. We look forward to supporting the team in its mission to transform the manufacturing industry.”
Zetwerk is the latest Indian startup to join the unicorn club, which now includes more than 50 companies. With its latest round, the company has achieved a valuation of $1.1 billion, making it one of the few Indian B2B startups to join the unicorn club.
The company’s success is a testament to the fact that B2B businesses can be just as successful as their B2C counterparts. In fact, the B2B segment has been one of the fastest-growing sectors in the Indian startup ecosystem in recent years, with the emergence of a number of successful startups such as Udaan, Razorpay and Industree.
Going forward, Zetwerk is well-positioned to capitalize on the growing demand for B2B services and establish itself as a leader in the space. With its latest funding round, the company will have the resources to scale up its operations and expand its reach into new markets.
FAQ
Q. What is Zetwerk?
A. Zetwerk is a Bangalore-based B2B startup that operates an online platform that connects manufacturing companies with suppliers. The platform simplifies the process of finding and ordering parts and components for products from across the manufacturing industry.
Q. How much money has Zetwerk raised?
A. Zetwerk has raised a total of $168 million to date, with the most recent round being a Series C round of $120 million led by Greenoaks Capital.
Q. What services does Zetwerk offer?
A. Zetwerk’s platform offers a suite of services to help businesses find and purchase components from a network of over 6,000 verified suppliers. It works with a range of industries, from consumer electronics to consumer goods and automotive, and helps customers streamline their procurement process.
Q. What does Zetwerk plan to do with the fresh capital?
A. Zetwerk plans to use the fresh capital to venture into new markets, expand its product offering and scale its operations. It will also look to hire more talent and invest in technology to build a robust platform.
Conclsuion
In conclusion, Zetwerk is a Bangalore-based B2B startup that is revolutionizing the manufacturing industry with its innovative platform. The company has seen remarkable success in recent years, and its latest round of funding is a testament to the fact that B2B businesses can be just as successful as their B2C counterparts. With its latest funding round, Zetwerk has the resources to expand its operations and reach new markets. It is well-positioned to capitalize on the growing demand for B2B services and establish itself as a leader in the space.
