Companies

Zetwerk enters ₹500 crore financing agreement with TradeCred

Our Bureau Bengaluru | Updated on October 12, 2021

The company's order book has crossed ₹5,200 crore

Capital and consumer goods manufacturer Zetwerk Manufacturing has closed a ₹500 crore financing agreement with Alternate Debt platform TradeCred.

As many as 13 family offices participated in the financing agreement. Commenting on the development, Amrit Acharya, Chief Executive Officer, Zetwerk Manufacturing, said, “Our business continues to see tremendous growth both in India and globally. We want to continue focussing on making our supply chain robust to build a world-class supplier network for our customers. Zetwerk’s ability to facilitate this arrangement also shows investor confidence in day to day business of the company.”

He added that the company's order book has crossed ₹5,200 crore and Zetwerk is on track to achieve strong, profitable business growth in 2021-22. The start-up reported turning EBITDA positive in July 2021, which was closely followed by the company’s $150 million Series E funding led by D1 Capital Partners.

“Zetwerk is one of the very few businesses operating at scale, and best positioned to evangelize manufacturing in India, with tech-enabled operations like none other. We are excited to have partnered in this journey of delivering next milestones in the global manufacturing space,” said Hardik Shah, Founder & CEO of TradeCred.

Zetwerk is a global manufacturing network for custom manufacturing that helps transform digital designs into physical manifestations. Zetwerk offers manufacturing solutions across a diverse range of products, from simple items like steel pipes to complex products like aircraft engine components, from industrial use-cases like metal bridges, oil rigs, aircraft/auto components to consumer use-cases like apparel, home appliances, audio-visual electronics, for small businesses and Fortune 500 companies alike.

Further, Zetwerk’s in-house manufacturing operating system software, ZISO, enables digital selection of supply, pricing recommendations, digital repository of engineering designs, real-time tracking of manufacturing across various stages, visual updates of products getting made, seamless communication across stakeholders and quality assurance of the final product getting shipped.

The core of Zetwork’s three year journey lies in the process of converting age-old experiential knowledge of people into a digital software-led approach. As the company enters new categories, such as aerospace or consumer electronics, they take their code and apply industry specific nuance to it, which they gather from people who have been doing it for decades.

Zetwerk serves more than 600 customers from around the globe and has built a supply chain of more than 4,000 suppliers in regions such as North America, Indo-Pacific, and the Middle East. During 2020-21, Zetwerk’s revenue grew to ₹949 crore from ₹360 crore in 2019-20. Zetwerk’s list of investors include D1 Capital Partners, Sequoia Capital, Accel Partners, Greenoaks, Lightspeed Partners, and Kae Capital.

Published on October 12, 2021

Follow us on Telegram, Facebook, Twitter, Instagram, YouTube and Linkedin. You can also download our Android App or IOS App.

  1. Comments will be moderated by The Hindu Business Line editorial team.
  2. Comments that are abusive, personal, incendiary or irrelevant cannot be published.
  3. Please write complete sentences. Do not type comments in all capital letters, or in all lower case letters, or using abbreviated text. (example: u cannot substitute for you, d is not 'the', n is not 'and').
  4. We may remove hyperlinks within comments.
  5. Please use a genuine email ID and provide your name, to avoid rejection.

You May Also Like