Zetwerk raises $32 Mn in Series B funding round

Zetwerk raises $32 Mn in Series B funding round

Online marketplace for manufacturing services Zetwerk has announced that it has raised USD 32 million through a Series B funding round from Lightspeed and Greenoaks Capital.

The funding round was also participated by existing investors Sequoia India, Accel, and Kae Capital. Vaibhav Gupta, Co-founder, Udaan and Maninder Gulati, Chief Strategy Officer, OYO also participated in the investment round.

The company also secures Rs 100 crore through debt funding from a consortium of banks and Non-banking Financial Companies (NBFCs).

With these new funds, the company is planning to expand its platform by venturing into logistics, financing and helping suppliers in purchasing materials.

The company is also looking forward to growing its team from 150 to 200 employees by the end of this financial year, as per the report published in an English Daily.

Eight months back the company had raised USD 9 million through Series A funding round from Accel Partners, Sequoia, and Kae Capital in March this year.

The company was launched in 2018 by Amrit Acharya, Srinath Ramakkrushnan, and Vishal Chaudhary.