Zetwerk Secures INR 565.5 Cr Funding in Series F3 Round as It Prepares for IPO
Zetwerk, the fast-growing e-commerce giant specializing in industrial manufacturing, has received approval from its board to raise INR 565.5 crore (approximately $66.6 million) in a new funding round. This capital infusion will be led by Khosla Ventures, a prominent venture capital firm, and supported by The Schiehallion Fund, among other investors. The funding round marks a significant step in Zetwerk’s expansion journey, as the company prepares to go public with an Initial Public Offering (IPO) expected to raise up to $1 billion.
Funding Breakdown and Key Investors
In the latest filing, Zetwerk disclosed that Khosla Ventures will invest INR 253.2 crore in the company, while The Schiehallion Fund will contribute INR 169 crore. The remaining portion of the funding will be raised through other investors. To facilitate this funding, Zetwerk’s board approved the issuance of 13,068,091 Series F3 compulsory convertible preferred shares at an issue price of INR 432.7 each.
This strategic investment underscores the confidence that leading venture firms have in Zetwerk’s business model, which has disrupted the industrial manufacturing space by connecting vendors, suppliers, and manufacturers efficiently. The capital will likely support the company’s expansion plans, technological developments, and ramping up of its operational capabilities as it gears up for an IPO.
Zetwerk’s Business Model and Growth Trajectory
Founded in 2018 by Ramakkrushnan, Amrit Acharya, Rahul Sharma, and Vishal Chaudhary, Zetwerk has emerged as a key player in the global industrial supply chain, enabling seamless connections between vendors and manufacturers for procuring industrial machine components. Zetwerk’s platform provides a marketplace where companies in need of manufacturing components can easily connect with a diverse network of suppliers, ensuring streamlined procurement processes.
The company has gained significant traction with its technology-driven platform that improves transparency, speeds up procurement cycles, and reduces costs for manufacturers. Zetwerk’s platform also allows businesses to track and manage their supply chain in real-time, enhancing operational efficiency.
By offering a range of products, from industrial machine parts to large-scale manufacturing equipment, Zetwerk caters to a variety of industries, including aerospace, automotive, energy, and consumer electronics. This diversification has allowed the company to scale quickly and build a broad client base across sectors.
IPO Plans and Future Outlook
The recent funding round comes shortly before Zetwerk is expected to launch its highly anticipated IPO. The company has already engaged investment banker JP Morgan to lead its IPO process, signaling its ambition to go public and further scale its business. The potential IPO could be a game-changer for Zetwerk, enabling it to tap into public market funds for continued growth and expansion.
With the e-commerce and supply chain industry rapidly evolving, Zetwerk’s platform is well-positioned to capitalize on the growing demand for efficient and transparent procurement solutions. The additional funding from Khosla Ventures and The Schiehallion Fund will provide the company with the financial resources needed to further innovate, expand its global presence, and cement its leadership in the industrial procurement market.
Conclusion
Zetwerk’s successful funding round and upcoming IPO plans represent a major milestone for the company. By raising INR 565.5 crore in Series F3 funding, Zetwerk is poised for continued growth, powered by its technology-driven approach to industrial supply chain management. With strong backing from top-tier investors, Zetwerk is well-positioned to expand its market share, enhance its platform’s capabilities, and prepare for a successful public offering, which will further bolster its competitive edge in the global industrial e-commerce landscape
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