Zetwerk Appoints 3 Execs To Helm Electronics Division

SUMMARY

While Bharat Chopra has been appointed as the in-charge of Noida facilities, Kannan Krishnan and Sathosh Ramakrishnan have been roped in as “incharge of South operations” and AVP of sales

In recent times, Zetwerk claims to have undertaken management takeover of two manufacturing facilities in Noida and committed INR 1,000 Cr to expand the division

Earlier this month, Zetwerk appointed six bankers to helm its potential $500 Mn IPO at a valuation of $5 Bn

Contract manufacturing startup Zetwerk has rejigged the top brass of its electronics manufacturing services (EMS) division, Zetwerk Electronics.

It has appointed chief operating officer (COO) Bharat Chopra as the incharge of its facilities in Noida. It has also roped in ex-Nokia executive Kannan Krishnan as the “incharge of South operations” to drive operational efficiency and expansion in Southern India.

In addition, the startup has also appointed Santhosh Kumar Ramakrishnan as assistant vice-president (AVP) of sales of the EMS division. The three newly appointed executives will report to president of electronics at Zetwerk, Josh Foulger.

In a statement, Zetwerk said that the appointments will strengthen its position as a premier electronics manufacturing services provider and accelerate the startup’s growth in the sector.

“We are thrilled to welcome these accomplished leaders to Zetwerk’s electronics business… Their deep industry knowledge and operational expertise will be instrumental in driving our growth, enhancing service capabilities, and delivering exceptional value to our customers,” said Zetwerk cofounder Rahul Sharma.

This comes at a time when Zetwerk has aggressively expanded its electronics manufacturing play. It claims to have made significant investments in its EMS business, including management takeover of two manufacturing facilities in Noida and a commitment of INR 1,000 Cr to expand the division.

The startup expects this internal push to “significantly boost” its production capacity across products such as smart metres, mobile phones, smart watches, TV and display devices, home appliances, automotive parts, and POS machines.

Additionally, it also claims to have collaborated with undisclosed partners to manufacture advanced IT hardware products in India.

“Zetwerk has also received significant incentives from the Uttar Pradesh government to fuel the growth of its electronics business, a testament to our alignment with India’s vision for manufacturing excellence. These incentives will be invested back in the business,” the statement added.

This comes barely a week after the IPO-bound contract manufacturing platform appointed manufacturing industry veteran Vadim Yakubov as the CEO of its US subsidiary Unimacts.

Founded in 2018 by Sharma, Srinath Ramakkrushnan, Amrit Acharya and Vishal Chaudhary, Zetwerk connects vendors and suppliers with manufacturing companies for procuring industrial machine components.

In December, Zetwerk said that it raised close to $70 Mn, pushing its valuation to $3.1 Bn from $2.7 Bn during its last fundraise in 2023.

The startup has also been gearing up for a public listing on the Indian bourses. Earlier this month, reports surfaced that it has appointed Axis Capital, Goldman Sachs Group, Jefferies Financial Group, JM Financial, JPMorgan Chase & Co and Kotak Mahindra Bank as bankers to helm its initial public offering (IPO).

The startup is said to be looking to raise $500 Mn via the market debut at a valuation of $5 Bn.