Mumbai: Enterprise-to-business (B2B) manufacturing providers market Zetwerk Manufacturing Enterprise Pvt Ltd has raised about $210 million as part of its Collection F funding spherical, led by US-based Greenoaks Capital, in keeping with a regulatory submitting.
Greenoaks Capital alone invested ₹543.8 crore ($72.5 million) within the funding spherical, in keeping with the regulatory submitting. ICONIQ Strategic Companions, D1 Capital Companions, Steadview Capital Mauritius, Avenir Zetwerk Traders, Lightspeed Enterprise Companions, amongst different buyers, participated within the funding spherical.
In accordance with VCCircle estimates, the fundraise values Zetwerk at $2.68 billion. With the newest fundraise, Lightspeed Enterprise Companions’ stake in Zetwerk has risen to six.10%.
As part of the transaction, Zetwerk allotted 41,816 Collection F Compulsorily Convertible Desire Shares (CCPS) at a difficulty worth of ₹3,75,128, for a complete consideration of just a little greater than ₹1,568 crore ($209.51 million). The corporate will likely be utilizing the funds for assembly Zetwerk’s fund necessities, in keeping with the regulatory submitting. The corporate may also use funds for progress and common company functions, together with capital expenditure, the regulatory submitting confirmed.
An e mail despatched to Zetwerk didn’t elicit a right away response.
In August, Zetwerk raised $150 million as part of its Collection E funding spherical, which valued the corporate at $1.33 billion. The funding was led by D1 Capital, that has backed Indian know-how startups together with Dream11 and Zomato. Earlier this yr, the corporate had raised $120 million as part of its Collection D funding spherical, led by Greenoaks Capital and Lightspeed Enterprise Companions.
The Bengaluru-based firm was based in 2018 by Amrit Acharya, Srinath Ramakkrushnan, Rahul Sharma and Vishal Chaudhary. The corporate connects mid-to-large authentic tools producers from India and Southeast Asia with corporations that require customized merchandise and machine elements.
The startup claims to have cast partnerships in segments comparable to precision elements, capital items and shopper items. The product classes it serves embody prefabricated buildings for infrastructure initiatives, sheet steel for electrical automobiles, precision elements for aerospace, and meeting strains for shopper durables.
Acharya had told VCCircle in a latest interview that the corporate was eyeing worldwide enlargement, and exploring inorganic alternatives by way of acquisitions.
Supply: Live Mint