• Zetwerk Manufacturing Businesses Pvt. Ltd, a provider of custom manufacturing services, raised $120 million in Series F funding from a consortium including Avenir Growth Capital, Footpath Ventures, Lightspeed India Partners, Greenoaks Capital, Steadview Capital, and D1 Capital Partners.

About Zetwerk Manufacturing Businesses Pvt. Ltd:

  • Zetwerk, founded in 2018 by Amrit Acharya, Srinath Ramakkrushnan, Rahul Sharma and Vishal Chaudhary, is a manufacturing services platform, which connects manufacturing companies with vendors and suppliers for customized products, industrial machine components and other equipment.
  • The company’s manufacturing capabilities range from simple items like pipes to complex products like aircraft engine parts. It’s range includes CNC machining, Die casting, 3D printing, Apparel production etc.

About the Investors:

Avenir Growth Capital:

  • Avenir Growth Capital is a private investment firm based in New York. The firm was founded in 2017. It focuses on growth equity opportunities, particularly in the media and TMT sectors. Fund typically invest in rounds with 6-7 participants.

Footpath Ventures:

  • Footpath Ventures is a New York-based venture capital firm that was founded in 2019. Investing in growth capital in emerging Asia, specifically in India. They focus on B2C, B2B, e-commerce, gaming, and education sector firms. It’s portfolio includes: Udaan, Meesho, and Dream11.


  • Zetwerk has seen meteoric rise in business from its modest beginning in FY18. Zetwerk’s operating revenue jumped almost 6X, reaching INR 4,960 Cr in FY22 from INR 835 Cr in FY21. Revenue for FY23 are around Rs. 11,500 Crore as per media reports.
  • Last year, Zetwerk acquired four companies at a cumulative cost of around $50 Mn.
  • The startup announced its foray into IT hardware and electric vehicle (EV) component manufacturing this September.
  • According to media reports, Zetwerk has set aside INR 1,000 Cr to invest in electronics manufacturing. The startup is already manufacturing consumer electronics, including audio devices, TVs and smart watches, among others.
  • Avenir Growth Capital invested around $75 Mn while Footpath Ventures pumped in $23.5 Mn.
  • The company has been valued at around $2.7 billion post allotment of the Series F2 round. Zetwerk was valued at around $2.68 billion when it raised $210 million led by Greenoaks in December 2021.
  • Zetwerk has raised $674 million in funding to date.
  • At present, Avenir Growth Capital holds 4.7% while Lightspeed, Peak XV Partners, and one of its co-founders Amrit Acharya own 11.72%, 13.91%, and 7.95% stake respectively.


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