Lightspeed-backed Indian B2B manufacturing startup joins unicorn club

Details:

• New investors Avenir and IIFL also participated in the round, along with existing investors Greenoaks Capital, Lightspeed Venture Partners, Sequoia Capital and Accel Partners.
• The funding round comes six months after Zetwerk raised US$120 million in a series D funding round led by US-based Greenoaks and Lightspeed. The latest funding round makes the contract manufacturer the 25th Indian unicorn to be born this year.
• Zetwerk will use the funds towards building new technology, global expansion and strengthening its market leadership across industrial and consumer manufacturing supply chains,

Dive deeper:

• Founded in 2018, Zetwerk helps small and medium-sized enterprises translate digital designs into physical products. It operates in categories such as consumer goods, apparel, defense, space, and aerospace.
• Its global network includes over 250 customers and more than 2,000 suppliers across 15 countries in North America, the Asia Pacific, and West Asia.
• The company announced it turned EBITDA positive this financial year and is growing the business in a capital-efficient manner.

This is the latest version of the article that was published on August 20, 2021.