manufacturing platform Zetwerkraised
$120 million in a Series D funding led by Greenoaks Capital and Lightspeed Venture Partners. Other investors, including Sequoia Capital India and Kae Capital, also participated in the round.
The startup will use the funding to help customers translate their digital designs into physical products through access to a wide range of fully verified, flexible manufacturing capacity from small manufacturers (SMEs).
Zetwerks had last raised
the total equity capital raised to $193 million.
Speaking on the investment,
Amrit Acharya, Co-founder and CEO, Zetwerk, said,
“The global manufacturing industry has had to swiftly adjust to the new normal, and digital solutions have become essential. Zetwerk accelerates this digital transformation with state-of-the-art productivity tools and remote project management. 2021 will see a further pace of growth as companies seek to diversify their procurement to minimise disruptions and become mo
Oral care, pharmaceutical and confectionary companies including Colgate Palmolive ,
Procter and Gamble and Mars Wrigleys are likely to increase the purchase of mentha oil in the coming quarter which will take exports close to pre-Covid levels, companies and trade bodies said.
India is the largest producer and exporter of mentha oil and its derivatives. It exports exports 30,000 tonnes to China, US , Europe and South America. In April-September, India exported 18,000 tonnes, according to industry estimates. Exports picked up until October but slowed down after that because of the second wave of coronavirus and year-end holidays. The European and US markets will open in the first week of January and then we can expect new orders. Chinese buying will simultaneously pick up. We expect exports this year to be close to the previous year, Phool Prakash, President, UP Mentha Industry Association said. He said the value of exports would be lower as prices are down 20%.