Zetwerk, B2B marketplace for manufacturing services has raised Rs 160 million from Asia’s leading venture debt provider, InnoVen Capital.
Online B2B marketplaces have caught the eye of investors as SMSE businesses are increasingly turning to the new age platforms to interact with a wide range of suppliers, allowing for better price discovery, greater efficiency and lower purchasing costs. 2018 was a breakthrough year for (B2B) startups in India. Of all 7,400 startups in India, 43% were B2B companies last year, according to the consultancy firm Zinnov. In comparison, just four years earlier in 2014, only 26% of all 3,100 startups were B2B enterprises in India.
Amrit Acharya, Co-founder & CEO, Zetwerk said, “We look forward to partner with InnoVen Capital as we continue to scale our business, both domestically and international. We are focused on deepening our capabilities and widening our supplier base, as we build a world class platform for manaufactuing services ”
Commenting on the investment, Ashish Sharma, CEO, InnoVen Capital India said “We have been impressed with the progress Zetwerk has made in a relatively short period of time. This is a large addressable market, with tremendous potential to organize the space and provide more efficient solutions to OEM’s & EPC’s for custom engineering jobs”
Started in 2018, Zetwerk is an on-demand manufacturing platform for original equipment manufacturers (OEMs) and engineering procurement construction (EPM) companies. The Company currently has 1500 SMEs and 100 enterprises across the platform. On the demand side, Zetwerk works with mid-to-large OEM companies from India and South-East Asia, who require procurement of custom products and machine parts that are not available off-the-shelf in the market. On the supply side, Zetwerk works with manufacturing SMEs like Bharat Wires, RN fabricators, and GM Engineers across multiple categories (like fabrication, machining, casting, forging, etc) who can meet this demand.