Business-to-business (B2B) manufacturing services marketplace Zetwerk has appointed Pulkit Bhandari as the company’s chief financial officer.
In his new role, Bhandari will be leading the Bengaluru-based unicorn’s initiatives to strengthen the company’s financial frameworks and work closely with investors and drive external stakeholder engagements, the company said in a statement.
Prior joining to Zetwerk, Bhandari served as the head of group corporate finance at RPG Enterprises leading the group’s several strategic initiatives. He had also worked as an investment banker at Deutsche Bank and ICICI Securities, among others.
Zetwerk, which counts Sequoia, Accel, Iconiq Strategic Partners, D1 Capital Partners, Steadview Capital, and Lightspeed as its investors, was set up in 2018 by Amrit Acharya, Srinath Ramakkrushnan, Rahul Sharma and Vishal Chaudhary. It connects mid-to-large original equipment manufacturers from India and Southeast Asia with firms that require custom products and machine parts.
Zetwerk is into steel fabrication and precision parts manufacturing, turnkey or upstream projects, consumer goods, apparels, defense besides trading of various commodities. Besides its home market it has operations in the US, Southeast Asia, Middle East and Africa.
Earlier this month, VCCircle reported that Zetwerk grew more than two-fold last year with revenue rocketing to around Rs 11,450 crore.
“Pulkit’s understanding of the financial ecosystem, combined with his ability to navigate complex scenarios, will strengthen the company's financial performance and support its continued expansion,” Acharya said.
Zetwerk had last raised $210 million in December 2021 at a valuation of $2.7 billion in a Series F round. That came barely four months after the Series E round of $150 million at a valuation of $1.3 billion.
The company has also raised fresh funding from one of its existing backers two months back.
Since raising Series F capital, Zetwerk has grown rapidly and acquired at least four companies.
The startup bought manufacturing services company Unimacts for around Rs 315 crore in December 2022 to expand its offerings. In June 2022, it acquired three companies for Rs 100 crore to strengthen its business in the oil and gas, aerospace, defence and infrastructure component segments. These companies were Pinaka Aerospace Solutions, the Wardha fabrication unit of Wheels India, and a majority stake in Sharp Tanks.
