[ad_1]
You are reading Entrepreneur India, an international franchise of Entrepreneur Media.
Bengaluru-based B2B contract manufacturing startup Zetwerk announced that it has raised $20 million from Rakesh Gangwal, co-founder of airline Indigo, through his investment firm Wheelhouse Venture Capital.
“We are pleased to share that Rakesh Gangwar has invested USD 20 million in ZWork through Wheelhouse Venture Capital. He brings valuable insight to building our brand, and his strategic guidance will be critical to the future of our business as we build Zetwerk into a next-generation company,” the company said in a statement.
Founded in 2018 by Amrit Acharya, Srinath Ramakkrushnan, Vishal Chaudhary, and Rahul Sharma, Zetwerk provides a managed marketplace for contract manufacturing services to industrial and consumer companies. In addition to solar energy and renewable energy, we operate in a variety of industries including oil and gas, renewable energy, aerospace, infrastructure, apparel, electronics, and retail.
We work with offline vendors who manufacture mechanical parts through casting, forging, machining, and galvanizing. With operations in over 15 countries, he claims to have served over 100 clients in over 25 areas across MEA, North America, India and other regions.
It acquired four businesses in 2022, the most recent of which was US-based company Unimacts for $39 million.
In 2021, the startup became a unicorn and is currently valued at around $2.7 billion. Peak XV Partners, Lightspeed and Green Oaks Capital are lead investors.
[ad_2]
Source link
