Zetwerk Co-founder Rahul Sharma Steps Down From Executive Role for AI Venture
Contract manufacturer Zetwerk's co-founder Rahul Sharma is transitioning from his executive role to a non-executive position to launch a new AI robotics venture.
Rahul Sharma, co-founder and managing director of precision business at contract manufacturer Zetwerk, is stepping back from his executive role. Sources indicate Sharma plans to launch a new venture focused on AI robotics, which is expected to receive backing from Zetwerk and seek independent funding.
Sharma, who co-founded the unicorn startup in 2018, is reportedly seeking capital for his new endeavor. This move follows closely after Zetwerk secured approval from the Securities and Exchange Board of India (SEBI) for its initial public offering (IPO).
Zetwerk, a B2B contract manufacturing platform, produces industrial components, electronics, and renewable energy equipment. The company operates more than 100 production facilities globally and achieved unicorn status in 2021.
Sharma's transition aligns with a trend of experienced founders shifting focus to new ventures, particularly within India's rapidly expanding AI sector. The Indian AI market is projected for substantial growth in the coming years.