Zetwerk Ropes In Vinod Dasari To Board

Zetwerk Ropes In Former Royal Enfield Executive To Board

SUMMARY

Zetwerk has appointed former Royal Enfield CEO Vinod Dasari to its board of directors.

The company reported INR 11,450 Cr in operating revenue for FY23 and raised $20 Mn from Wheelhouse Ventures in March, reaching a $2.8 Bn valuation.

Zetwerk plans to invest INR 1,000 Cr in its electronics business and has launched new IT hardware factories in partnership with SMILE Electronics.

Manufacturing platform Zetwerk has onboarded former Royal Enfield executive Vinod Dasari to its board of directors.

With over 35 years of experience across auto and engineering sectors, Dasari will help in Zetwerk’s growth as it looks to enter key sectors like consumer electronics, aerospace, renewables and industrials.

“Dasari’s deep understanding of manufacturing complexities, coupled with his proven leadership skills, will be instrumental in guiding Zetwerk’s continued growth and success. We are confident that Dasari’s insights will be invaluable as we further deepen our capabilities in the contract manufacturing landscape,” said Zetwerk CEO Amrit Acharya.

Dasari is currently serving as an operating partner at PE firm Advent International. Between 2019 and 2021, he served as the chief executive of Royal Enfield and chief executive of Ashok Leyland from 2011 to 2019.

Founded in 2018 by Amrit Acharya, Srinath Ramakkrushnan, Rahul Sharma and Vishal Chaudhary, Zetwerk connects businesses with manufacturing suppliers. It serves over 1,800 customers across 25 industries in 20 countries.

The company reported an operating revenue of INR 11,450 Cr in FY23, a 2.3x increase from the previous year. However, it also posted a loss of INR 109 Cr, up 81% year-on-year.

Zetwerk raised $20 Mn from Wheelhouse Ventures in March, valuing the company at $2.8 Bn. It plans to invest INR 1,000 Cr in its electronics business, focusing on mobile phones, hearables, and computer devices.

The company launched new IT hardware factories in partnership with SMILE Electronics, expanding its presence in the electronics manufacturing sector.

Zetwerk ranked 64th among India’s top 100 most valuable brands for 2024, according to Brand Finance’s Annual India 100 report.

The company competes with Infra.Market, CADDi, and Moglix in the B2B manufacturing space.

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