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Zetwerk Eyes $20-30 Million Fundraise Ahead of IPO

OutlookIndia

OutlookIndia · 6m ago

Zetwerk Eyes $20-30 Million Fundraise Ahead of IPO

Zetwerk, a B2B manufacturing unicorn, plans to raise $20-30 million ahead of its 2025 IPO at a $3.1 billion valuation. Previously, it raised about $67 million from investors such as Khosla Ventures and The Chinkerpoo Family Trust, totaling $740 million in funding. This move aims to strengthen its capital structure before listing on Indian stock exchanges. The company achieved a 25% increase in operating revenue and significant orders from industry giants.

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Peak XV-Backed Zetwerk Eyes $1 Bn IPO

Inc42 · 9m ago

Peak XV-Backed Zetwerk Eyes $1 Bn IPO

Zetwerk, a startup, is planning to raise $1 billion through an initial public offering (IPO) after engaging in talks with JP Morgan. The company is currently in discussions with investment bankers to prepare for its public listing in Mumbai next year. Zetwerk had previously announced plans to invest INR 500 crore to expand its manufacturing capacity for the renewables sector.

Medibuddy eyes $130 million in pre-IPO

Economic Times

Economic Times · 2m ago

Medibuddy eyes $130 million in pre-IPO

Health-tech firm Medibuddy initially sought to raise $130 million in a pre-IPO round but clarified it's targeting $60 million instead. The fundraising, led by Avendus Capital, includes $25-30 million in primary capital and $30-35 million for secondary investors, primarily offering exits for early angel investors. Medibuddy, founded by IIT Madras alumni, prioritizes building a sustainable healthcare market leader and is not rushing towards an IPO, despite its long-term plans.

Kenro Capital eyes up to $40 mn stake in Pine Labs as early backers seek exits

Livemint

Livemint · 1m ago

Kenro Capital eyes up to $40 mn stake in Pine Labs as early backers seek exits

Kenro Capital is considering a $30-40 million investment in Pine Labs as the fintech company’s initial investors seek exits ahead of its IPO. Pine Labs recently filed a draft red herring prospectus with the Securities and Exchange Board of India for its public offering, planning to issue fresh equity worth ₹2,600 crore and an offer-for-sale of over 14.78 crore shares. The company was valued at $5.05 billion in 2022 after raising funds from Vitruvian Partners.

Aviation veteran Rakesh Gangwal invests $20 mn in Zetwerk

VCCircle

VCCircle · 1y ago

Aviation veteran Rakesh Gangwal invests $20 mn in Zetwerk

Rakesh Gangwal, co-founder of IndiGo and former CEO of US Airways Group, has invested $20 million in Bengaluru-based manufacturing startup Zetwerk. Gangwal made the investment through Wheelhouse Venture Capital in a flat round that values Zetwerk at nearly $2.8 billion. The funding comes after Zetwerk raised $120 million in a Series F round led by Avenir Growth Capital. Zetwerk has reported significant revenue growth, doubling its operating income to INR 11,449 crore ($1.5 billion) in the previous financial year.

Zetwerk readying draft IPO papers, may aim to raise $400-500 million

Economic Times

Economic Times · 6m ago

Zetwerk readying draft IPO papers, may aim to raise $400-500 million

Zetwerk, a $3 billion manufacturing startup, plans to file for an IPO within six months, aiming to raise $400-500 million, targeting over a $5 billion valuation. The IPO will include a small secondary component, and Zetwerk has appointed Axis Bank, Goldman Sachs, and Kotak Mahindra as bankers. The company is expanding globally, with significant orders and a pre-IPO funding round of $100 million. Zetwerk's revenue grew by 25% to Rs 14,436 crore, despite increased losses due to strategic shifts.

Zepto eyes $250 mn from HNIs, wealth firms at flat valuation

Livemint

Livemint · 9m ago

Zepto eyes $250 mn from HNIs, wealth firms at flat valuation

Quick commerce startup Zepto is reportedly seeking to raise about $250 million from high-net-worth individuals and wealth management firms at a valuation of $5 billion. The Mumbai-based company, which plans to go public next year, aims to balance its captable ahead of its IPO. Zepto recently raised $340 million in a funding round led by General Catalyst, and in a pre-IPO round, it secured $665 million. The company is expanding its network of dark stores and its Zepto Café service to compete with food delivery platforms like Swiggy and Zomato in the quick-commerce sector.

Indigo cofounder Rakesh Gangwal invests $20 million in Zetwerk via Wheelhouse Venture Capital

Economic Times

Economic Times · 1y ago

Indigo cofounder Rakesh Gangwal invests $20 million in Zetwerk via Wheelhouse Venture Capital

Bangalore-based contract manufacturing startup Zetwerk has secured $20 million in fresh investments from venture debt and private equity firm Wheelhouse Venture Capital, with funding coming from Indigo Airlines' co-founder Rakesh Gangwal. Zetwerk is a managed marketplace that connects industrial and consumer enterprises with a global network of manufacturers. The company plans to expand its presence in the consumer electronics sector and invest over INR 1,000 crore ($134 million) in the next three years. Zetwerk aims to enter the electric vehicle components manufacturing industry and is planning to establish three new manufacturing facilities in south India.

Groww files draft papers for IPO, eyes $700 million to $1 billion listing

Economic Times

Economic Times · 3m ago

Groww files draft papers for IPO, eyes $700 million to $1 billion listing

Online investment platform Groww has confidentially filed a draft red herring prospectus with the Securities and Exchange Board of India for an estimated $700 million to $1 billion initial public offering. Ahead of the listing, Singapore’s GIC plans to acquire a 2.14% stake in Groww as part of a $250 million to $300 million pre-IPO round, potentially valuing Groww at around $7 billion. Groww reported an operating revenue of Rs 3,145 crore for FY24.

Zetwerk raises $70 million from Khosla Ventures, others

Economic Times

Economic Times · 8m ago

Zetwerk raises $70 million from Khosla Ventures, others

Indian contract manufacturing startup Zetwerk has secured an additional $70 million in funding, bringing the total for its current round to $100 million. The round was led by Khosla Ventures and Rakesh Gangwal, founder of Indigo airline. Zetwerk, which is now valued at $3 billion, plans to use the funds to expand into new business areas and geographies. The company is reportedly in talks for an IPO in the next financial year and is attracting long-term investors before going public. Zetwerk operates as a managed marketplace for contract manufacturing, serving industries like automotive, aerospace, and defense.

Exclusive: Zetwerk to acquire majority stake in Kryfs

Entrackr

Entrackr · 17d ago

Exclusive: Zetwerk to acquire majority stake in Kryfs

Exclusive: Zetwerk to acquire majority stake in Kryfs Full-stack manufacturing services platform Zetwerk has moved to acquire a majority stake in Mumbai-based Kryfs Power Components, a maker of transformer cores and electrical steel products, according to regulatory filings reviewed by Entrackr. As per the filings, Zetwerk will acquire a 51% stake in Kryfs in a stock deal. The board at Zetwerk has passed a board resolution to issue 2.56 crore preference shares worth Rs 238 crore to Kryfs’s shareholders: Saifuddin Fakhruddin Qureishi, Rauzat Saifuddin Qureishi, and Aalliyah Qureishi as part of the transaction. Importantly, it remains unclear whether the remaining 49% stake will be settled in cash or in a future transaction. Queries sent to Zetwerk remained unanswered at the time of publication. The potential acquisition comes just after the company has received Rs 600 crore from its founder-owned entity Creovate Innovation. Entrackr had exclusively reported this development. Founded in 1992, KRYFS is a transformer core maker with a capacity to process 50,000 MT of CRGO electrical steel annually. The company operates across the energy supply chain, from solar power generation to transformer manufacturing, and runs 10 plants across Dadra and Nagar Haveli, Maharashtra, Gujarat, and Madhya Pradesh. Zetwerk’s acquisition aligns with its plans for a $400–500 million IPO at a targeted $5 billion valuation. Adding established, revenue-generating companies like KRYFS will strengthen its manufacturing base and sharpen its positioning ahead of the listing. According to startup data intelligence platform TheKredible, Zetwerk has raised over $800 million through a mix of equity and debt funding, including a $70 million Series F round led by Khosla Ventures in December last year, which pegged its post-money valuation at $3 billion. The development was exclusively reported by Entrackr then. While it has yet to disclose its FY25 numbers, the firm reported a 26% year-on-year increase in gross revenue to Rs 14,436 crore in FY24. Zetwerk competes with Infra.Market, OfBusiness, and Moglix. Infra.Market recently raised $150 million from Mars Growth Capital.

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