Zetwerk Plans IPO Within 18 Months Amid Growth in Electronics Manufacturing

Zetwerk’s IPO Plans

Zetwerk, an Indian B2B manufacturing startup, is preparing for an initial public offering (IPO) within the next 12 to 18 months. The company has been in discussions with investment bankers and aims to raise up to $1 billion, potentially valuing the firm at several billion dollars.

Recent Fundraising and Valuation

In December 2024, Zetwerk secured $90 million in funding, bringing its valuation to $3.1 billion. Investors in this round included Khosla Ventures, Rakesh Gangwal (co-founder of IndiGo Airlines), Baillie Gifford, and existing backers like Greenoaks and Avenir.

Financial Performance

Gross merchandise value (GMV) for FY24: ₹17,564 crore (~$2.1 billion), a 35% increase from ₹13,000 crore in FY23.
Operating revenue for FY24: Approximately ₹15,000 crore.
Adjusted EBITDA increased slightly to ₹191 crore from ₹188 crore in FY23.

Business Model and Growth Strategy

Zetwerk connects suppliers and customers across industries such as renewables, electronics, aerospace, and defense. The company is benefiting from global companies diversifying their supply chains away from China, with North America accounting for 20% of its GMV in FY24.

Expansion Plans

With the recent funding, Zetwerk aims to expand its international business, targeting an increase in its global revenue share from 20% to 40% over the next three to five years.

Zetwerk’s strong financial performance and strategic expansion plans position it well for its upcoming IPO and future growth.

“Zetwerk Plans IPO Within 18 Months Amid Growth in Electronics Manufacturing”