Bengaluru: ZETWERK Manufacturing Businesses Pvt Ltd has reported a strong performance for the fiscal year ending March 31, 2024, achieving a Gross Merchandise Value (GMV) of ₹17,564 crore (approximately $2.1 billion), driven by a diversified business strategy and solid fundamentals.
In addition to this financial milestone, ZETWERK raised nearly $90 million in a funding round led by prominent investors, including Khosla Ventures, Rakesh Gangwal (co-founder of IndiGo Airlines), and Baillie Gifford. Existing investors Greenoaks and Avenir Growth also participated in the round, which has elevated the company’s valuation to $3.1 billion.
The fresh capital will support ZETWERK’s expansion across key sectors such as renewables, consumer electronics, and aerospace. The company’s strong international presence and commitment to supply chain innovation position it as a critical player in the global manufacturing market.
"Every company that needs manufacturing capabilities is focused on making their supply chains more resilient and less prone to geopolitical risk," said Jai Sajnani of Khosla Ventures. "ZETWERK has quickly become a leading manufacturing marketplace that gives customers options around the world. We are excited to partner with them in their next phase of growth."
ZETWERK’s business has grown significantly over the past five years, with a total lifetime GMV of around $5 billion since its inception in 2018. The company now serves over 2,000 customers across 10,000 suppliers in countries like India, the U.S., Vietnam, and Mexico, with 20% of its supply located outside India.
"ZETWERK is rapidly positioning itself as a key partner for global customers seeking to navigate the shifting geopolitical landscape of supply chains," said Amrit Acharya, Co-founder and CEO of ZETWERK. "Our platform offers transparency and efficiency, helping clients avoid delays and cost overruns while ensuring high-quality production."
ZETWERK’s core offering is its “Build-to-Print” engine, supported by ZETWERK OS, a manufacturing operating system that handles everything from supplier selection to real-time tracking and quality assurance. The system enables the company to efficiently manage complex orders and execute thousands of contracts simultaneously.
In 2023-24, ZETWERK’s industrial sector, including renewables and precision manufacturing, contributed 92% of its total GMV. International markets accounted for 21% of the GMV, underlining the company’s success in global expansion.
As of September 30, 2024, ZETWERK's open order book stood at ₹12,839 crore (~$1.51 billion), reflecting continued demand and confidence in its platform. The company has successfully met the manufacturing needs of diverse industries, from trains and wind turbines to electronics and aerospace.
ZETWERK’s ability to streamline complex supply chains and reduce lead times has made it a trusted partner for businesses worldwide, with repeat customers accounting for 80-85% of its GMV.
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