Zetwerk Secures ₹500 Crore Pre-IPO Funding From Bharat Value Fund
India-based manufacturing startup Zetwerk has raised ₹500 crore (approximately $60 million) in a pre-IPO funding round from Bharat Value Fund. The funding follows regulatory approval for the company's initial public offering.
Manufacturing platform Zetwerk has secured ₹500 crore (approximately $60 million) in a pre-IPO funding round from Bharat Value Fund. This investment comes days after the Securities and Exchange Board of India (SEBI) approved the startup's initial public offering (IPO), moving it closer to its stock market debut.
The funding round valued the contract manufacturer at approximately $4 billion, according to sources familiar with the matter. Zetwerk, founded in 2018, operates a full-stack manufacturing platform serving sectors including industrial components, electronics, and renewable energy equipment.
The company did not respond to queries seeking comment. Zetwerk's proposed IPO is expected to include a fresh issue of nearly $300 million and an offer-for-sale component of about $150 million. Bharat Value Fund is an Alternative Investment Fund (AIF) registered with SEBI and sponsored by the Pantomath Group.
Zetwerk utilizes a B2B contract manufacturing model. Enterprise clients provide product designs, while Zetwerk manages vendor selection, procurement, production, quality control, and logistics through its network of manufacturing partners. The company claims to operate over 100 production facilities across India, the US, Germany, Spain, Vietnam, and Mexico.
The startup achieved unicorn status in 2021 and has raised over $700 million in total funding to date. Separately, co-founder Rahul Sharma recently transitioned from an executive role to a non-executive position, reportedly to launch a new AI robotics venture.