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HomeFunding India-based Zetwerk invests INR 1,000 crore in Expanding Manufacturing

[Funding Alert] India-based Zetwerk invests INR 1,000 crore in Expanding Manufacturing

Zetwerk is growing from 16 assembly lines in one plant in Noida to 60 assembly lines spread across six production locations in mobile phone, hearable, and wearable spaces. At its Bengaluru plant, the company is also strengthening its position in the computer device market by producing motherboards, desktop PC power supplies, and other electronic components.

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Wheel House Venture Capital, backed by IndiGo promoter Rakesh Gangwal, provided $20 million in capital to Zetwertk last month. The managed contract manufacturing marketplace Zetwerk announced that it has set aside INR 1,000 crore, or about $120 million, to expand its electronics manufacturing capacity in the areas of wearables, television, mobile phones, and IT hardware.

“Zetwerk views India’s electronics manufacturing sector as experiencing a transformative shift, akin to a Y2K moment, propelling the nation towards a flourishing ‘Viksit Bharat’ (developed India). Through this significant capacity expansion, we aim to act as the ‘teen powerhouse’ of Viksit Bharat,” said Josh Foulger, president of Zetwerk Electronics.

It was established in 2018 by Amrit Acharya, Srinath Ramakkrushnan, Rahul Sharma, and Vishal Chaudhary, links manufacturers with suppliers and distributors for customized goods that are utilized as parts of industrial machinery and equipment.

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Zetwerk provides manufacturing solutions for a variety of sectors, including consumer electronics, oil and gas, precision manufacturing, aerospace and defense, and infrastructure. In 2021, it joined the unicorn club. An order to install over 1,400 electric vehicle (EV) chargers at Indian Oil Corporation (IOC) gas stations was given to Zetwerk last month. 

About Zetwerk

Zetwrek is an advanced technology-driven global manufacturing network. Through assisting clients in cutting expenses, maximizing suppliers, and expediting production, it is revolutionizing the realm of traditional manufacturing.

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