Zetwerk To Invest INR 1,000 Cr To Expand Electronics Manufacturing Capacity

Zetwerk, a managed marketplace for contract manufacturing, said it has earmarked an investment of INR 1,000 Cr (around $120 Mn) to grow its electronics manufacturing capacity across IT hardware, television, mobile phones, hearable and wearable product segments.

In a statement, the unicorn said it aims to lead the ODM (original design manufacturer) as well as electronics manufacturing services space in the mobile phones, hearable and wearable space categories.

The startup said it is expanding its capacity in the mobile phones, hearable and wearable spaces from 16 assembly lines in one factory in Noida to 60 assembly lines across six manufacturing facilities, increasing the capacity to over 4 Mn units per month. 

Zetwerk also claimed that it is now producing one device a second from its factories.

The startup also said that it is solidifying its foothold in the computer devices space by manufacturing motherboards, desktop PC power supplies, and other electronic components for major multinational corporations and original equipment manufacturers at its Bengaluru facility.

Zetwerk has also entered the television and display devices business by commissioning one of north India’s largest TV manufacturing facilities with a production capacity of 2.4 Mn units annually to cater to both domestic and international brands.

“Zetwerk views India’s electronics manufacturing sector as experiencing a transformative shift, akin to a Y2K moment, propelling the nation towards a flourishing ‘Viksit Bharat’ (developed India). Through this significant capacity expansion, we aim to act as the ‘teen powerhouse’ of Viksit Bharat,” said Josh Foulger, president of Zetwerk Electronics.

Founded in 2018 by Amrit Acharya, Srinath Ramakkrushnan, Rahul Sharma and Vishal Chaudhary, Zetwerk connects manufacturing companies with vendors and suppliers for customised products that are used as components of industrial machines and equipment.

Zetwerk offers manufacturing solutions across industries such as precision manufacturing, aerospace and defence, renewables, consumer electronics, oil and gas, and infrastructure. It entered the unicorn club in 2021.

Last month, Zetwerk received an order to set up more than 1,400 electric vehicle (EV) chargers at Indian Oil Corporation (IOC) petrol stations across India. 

In the same month, the startup bagged $20 Mn funding from IndiGo promoter Rakesh Gangwal-led Wheelhouse Venture Capital.

In October last year, it also raised $120 Mn in a Series F funding round led by Avenir Growth Capital.