Zetwerk secures US$32 million for its manufacturing marketplace
Zetwerk closed its Series B financing round, which has been led by Greenoaks Capital and Lightspeed. Indian startup managed to secure US$32 million in funding.
Zetwerk is a b2b marketplace for item manufacturing. It mostly sells industrial goods such as doors, parts of cranes, chassis of different machines and ladders. The company aims to serve customers in machining, fabrication, casting and forging businesses. Zetwerk already partnered up with more than 100 large enterprises and 1,500 small and medium businesses. It is delivering over 15,000 parts each month.
“These are all custom-made products,” stated Amrit Acharya, one of the founders “Nobody has a stock of such inventories. You get the order, you find manufacturers and workshops that make them. Our customers are companies that are in the business of building infrastructure.”
After a firm has placed its order, Zetwerk lets them keep an eye on the progress of goods manufacturing and the shipping. This options are important, as in this area of business, since manufacturing and shipping of this scale typically take more than two to three months. The startup also helps its clients to get clients in other countries.