Zetwerk Becomes Latest India Unicorn After Scoring $150 Million
(Bloomberg) -- Zetwerk has become India’s youngest billion-dollar startup or unicorn after raising $150 million from investors including D1 Capital Partners, Sequoia and Accel Partners.
The supply chain startup, which connects global companies with manufacturing partners in India and Southeast Asia, secured the funding in a Series E round led by new investor D1 Capital, according to a person familiar with the matter, who asked not to be named as the deal isn’t yet public. A Zetwerk spokesman declined to comment.
The financing is the second this year for three-year-old Zetwerk, the latest to benefit from rising interest in India’s technology companies that are rapidly emerging as the country’s next source of economic expansion. The company seeks to accelerate growth in regions like Southeast Asia and the U.S. and add customers in newer areas like defense and aerospace.
Zetwerk helps manufacturers of products from pipes to aircraft engines streamline the traditional way of handing out industrial contracts. Zetwerk’s software matches companies with the right manufacturing partner based on lead times and costs. Its platform allows project managers to monitor the process from purchase order to delivery, providing real-time tracking.
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