Zetwerk recognised as a rocket ship in a Harvard’s professor report

Zetwerk, a homegrown digital business-to-business marketplace for large manufacturing, which recently bought back shares worth $8.3 million (Rs 60.92 crore) from employees and early investors, is among 35 Indian startups that have been recognised as a rocket ship for 2021, according to a report by a Harvard Business School professor.

Designed and developed by Jeffrey Bussgang, a Harvard Business School professor, the list takes into account a mix of fundraising, scale, momentum, and hiring.

The list features 389 startups from all around the world as rocket ships. Of these, 115 are non-American companies and of these, India has 35 start-ups in this list, higher than China, South America, and Europe.

Zetwerk multiplies the prospects of small-scale manufacturers and helps them connect and do business with customers worldwide.

For large scale manufacturers, Zetwerk offers one-stop solutions to their problems with an unlimited range of manufacturing capabilities and capacities.

Zetwerk works across industries such as Railways, Water, Transmission & Distribution, Oil & Gas, Defence, Aerospace, Apparel & Electronics.

Last week, Zetwerk announced that it has bought back shares worth $8.3 million (Rs60.92 crore) from employees and early investors. A large part of the Zetwerk workforce participated in the Employee Stock Options (ESOPS) liquidation process completed in three rounds, it said.

Zetwerk employs close to 400 people on its rolls, up from 250 people over the same period last year. It is backed by marquee investors such as Sequoia Capital, Accel Partners, Greenoaks, Lightspeed Partners, and Kae Capital. In February, Zetwerk raised $120 million in Series D funding round led by US-based Greenoaks Capital and Lightspeed taking its overall fundraise to close to $200 million. Sequoia Capital India and Kae Capital also participated in the round.

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