B2B E-Marketplace Zetwerk Raises $9 Mn from Accel, Sequoia Capital
Bangalore-based Zetwerk, a web marketplace for company patrons and suppliers, has raised $9 million (~₹64 crore) in an exceedingly Series A spherical of funding from Accel Partners, according to LiveMint. Its existing investor’s cypress Capital and Kae Capital additionally contributed to the spherical.
Founded in 2017, by Indian Institute of Technology (IIT) Madras alumni Amrit Acharya and Srinath Ramakkrushnan, Zetwerk may be a B2B marketplace centered on make-to-order custom producing.
Interestingly, before co-founding Zetwerk, Srinath was heading the provision Business for blackbuck, that is additionally backed by Accel and dealing in supplying section.
Zetwerk claims to be India’s initial on-demand producing platform that serves OEM / EPC corporations with outsourcing needs and SME Suppliers with capability. Zetwerk may be a nationwide producing network with large capacity, wide producing capability & project engineering experience.
The startup had earlier raised a $1.2 million seed funding spherical from Kae Capital and cypress in August last year.
Zetwerk works primarily with shoppers within the oil and gas, power, renewable energy, and infrastructure businesses. Its shoppers embrace Embassy workplace Parks, ThyssenKrupp, Jindal, BGR energy, Embassy cluster, and Fidelity Contracts.
In last one year some, B2B (business-to-business) startups have managed to draw in investors ensuring a record $3.09 billion fund-raise across 415 rounds in 2018. This was twenty-eighth over the $2.41 billion allotted in 2017, across 534 rounds, in keeping with information huntsman Tracxn.
Earlier this month, Noida-based Moglix, a B2B industrial product marketplace, had raised associate covert quantity from Flipkart business executive Kalyan Krishnamurthy, that marked his initial solo personal investment.
In Gregorian calendar month, Bangalore-based Ninja card, a B2B agri-marketing platform that connects farmers with retailers, had raised US$35 million nonparallel B spherical of funding from Accel Partners (US), Switzerland-based Syngenta Ventures and Neoplux, a South Korean personal equity firm.
In October, US-based package firm, Ebix, Inc., a world provider of On-Demand package and E-commerce services to the insurance, financial, health care, and e-learning industries, these days declared that one in all its India-based EbixCash subsidiaries has noninheritable a sixty-seven stake in Router, a Delhi-based B2B Marketplace for shipping supplies.
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