Zetwerk has secured Rs 156.4 crore in a Series C funding round led by its existing backers, Greenoaks Capital and Accel Partners. It partners with offline suppliers who are engaged in fabrication, machining, casting, forging, and galvanizing of machine parts.
The financing round also witnessed the participation of Mauritius-based Kalysta Capital Fund, Subhsiah Vellayan, A. Venkatachalam along with other existing investors, Kae Capital, Sequoia Capital, and Lightspeed Partners.
The company has made an allotment of 30,050 Series C compulsorily convertible preference shares (CCPS) for Rs 52,044.88 per share to the above-mentioned investors, shows regulatory filings.
Greenoaks has led the funding tranche by putting in Rs 90.66 crore, followed by Accel with an investment of Rs 30.26 crore while Lightspeed and Sequoia have also infused Rs 15.86 crore and Rs 11.33 crore respectively.
Kae Capital invested Rs 5.67 crore whereas Kalysta Capital Fund has put in Rs 1.89 crore. Vellayan and Venkatachalam have infused Rs 38 lakh each.
The fresh funding round for Zetwerk has materialized within six months of its $32 million worth Series B financing. In January this year, it had also secured Rs 16 crore debt from Innoven Capital. So far, the platform has managed to secure over Rs 471.44 crore ($62.8 million) across four financing rounds.
Post Series C financing, Sequoia will remain the biggest shareholder in Zetwerk with a 16.87% stake. Accel will hold a 14.78% stake while co-founders- Amrit Acharya and Srinath Ramakkrushnan will retain 14.13% stake each.
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