Zetwerk: Indigo cofounder Rakesh Gangwal invests $20 million in Zetwerk via Wheelhouse Venture Capital
Contract manufacturing startup Zetwerk has raised $20 million (about Rs 166 crore) in fresh investments from venture debt and private equity firm Wheelhouse Venture Capital.
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Rakesh Gangwal, the cofounder of Indigo Airlines, has made the investment through the venture firm, Zetwork said, confirming the development.
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“We are delighted to share that Rakesh Gangwal has invested $20 million in Zetwerk through Wheelhouse Venture Capital. Gangwal, with his extensive experience spanning several decades, brings invaluable insights into building businesses and iconic brands. His strategic guidance will be crucial in building Zetwerk into a generational company,” the company said in a statement.
Founded in 2018, Zetwerk is a managed marketplace for contract manufacturing. It partners with industrial and consumer enterprises to get their products manufactured via a global network of small manufacturers.
The company, which has been serving manufacturing for industries including automotive, aerospace and defence, entered the IT hardware business with the production of laptops last year.
It is looking to make an entry into manufacturing components for electric vehicle (EV) makers.
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In a recent interaction with ET, Zetwerk cofounder Rahul Sharma said the company was looking to invest more than Rs 1,000 crore into its consumer electronics business over the next three years. It helps manufacture wearables, hearables and televisions in the consumer electronics space. The contract manufacturer, which entered the unicorn club in 2021, was also looking to expand its footprint beyond north India with three new manufacturing facilities in the south, Sharma added.
News website Entrackr first reported about Zetwerk’s latest funding on Thursday morning.
In FY23, Zetwerk saw its losses widen to Rs 108.7 crore, from Rs 59.7 crore in the previous fiscal. However, its revenue from operations more than doubled from the previous year to Rs 11,448.6 crore
Contract manufacturing startup Zetwerk has raised $20 million (about Rs 166 crore) in fresh investments from venture debt and private equity firm Wheelhouse Venture Capital.
![]()
Rakesh Gangwal, the cofounder of Indigo Airlines, has made the investment through the venture firm, Zetwork said, confirming the development.
Elevate Your Tech Prowess with High-Value Skill Courses
| Offering College | Course | Website |
|---|---|---|
| Indian School of Business | ISB Product Management | Visit |
| IIM Lucknow | IIML Executive Programme in FinTech, Banking & Applied Risk Management | Visit |
| IIT Delhi | IITD Certificate Programme in Data Science & Machine Learning | Visit |
“We are delighted to share that Rakesh Gangwal has invested $20 million in Zetwerk through Wheelhouse Venture Capital. Gangwal, with his extensive experience spanning several decades, brings invaluable insights into building businesses and iconic brands. His strategic guidance will be crucial in building Zetwerk into a generational company,” the company said in a statement.
Founded in 2018, Zetwerk is a managed marketplace for contract manufacturing. It partners with industrial and consumer enterprises to get their products manufactured via a global network of small manufacturers.
The company, which has been serving manufacturing for industries including automotive, aerospace and defence, entered the IT hardware business with the production of laptops last year.
It is looking to make an entry into manufacturing components for electric vehicle (EV) makers.
Discover the stories of your interest
In a recent interaction with ET, Zetwerk cofounder Rahul Sharma said the company was looking to invest more than Rs 1,000 crore into its consumer electronics business over the next three years. It helps manufacture wearables, hearables and televisions in the consumer electronics space. The contract manufacturer, which entered the unicorn club in 2021, was also looking to expand its footprint beyond north India with three new manufacturing facilities in the south, Sharma added.
News website Entrackr first reported about Zetwerk’s latest funding on Thursday morning.
In FY23, Zetwerk saw its losses widen to Rs 108.7 crore, from Rs 59.7 crore in the previous fiscal. However, its revenue from operations more than doubled from the previous year to Rs 11,448.6 crore
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