Supply chain startup Zetwerk plans to raise $1 billion via IPO in 2025: Report

Zetwerk Pvt. Ltd, a business-to-business (B2B) supply chain startup, is reportedly considering raising as much as $1 billion (around ₹8,439 crore) through an initial public offering (IPO). The company is likely to go public next year.

According to a Bloomberg report, Bengaluru-based Zetwerk is discussing with investment bankers for a potential listing on stock exchanges in 2025.

The report added that these discussions are at a preliminary stage. The company has not made any final decision on the size, value, or timing of the IPO and is also considering other fund-raising options simultaneously.

According to a report by Inc42, the Lightspeed-backed startup has initiated discussion with investment banker JP Morgan for its IPO. The company’s management also held discussions with other banks, the report added, quoting sources.

Zetwerk was established 2018 by four IITians – Amrit Acharya, Srinath Ramakkrushnan, Vishal Chaudhary and Rahul Sharma. The company is a B2B marketplace for custom manufacturing where companies can discover suppliers.

Zetwerk's website states that it is a partner to leading players in precision parts, capital goods, and consumer goods categories, offering a full spectrum of manufacturing services—from custom-made components to mass production, from quality certification to inventory and supply chain management.

The company has already secured more than $700 million in total funding so far and was last valued at $2.8 billion. It is backed by renowned investors like Peak XV Partners Mars Growth Capital and Greenoaks Capital, among others.

The news of the potential fund-raising has come almost a month after Zetwerk’s co-founder and COO Srinath Ramakkrushnan announced that the company was planning to invest ₹500 crore over the next two years to expand its renewable manufacturing capabilities.

Zetwerk also aims to enhance its presence in the offshore wind sector in the US and Europe while focusing on solar energy opportunities both in India and abroad.

The company earlier said that it was expecting a 30% revenue growth in the renewables sector this year, with the current order book exceeding ₹12,000 crore.