Indigo's Rakesh Gangwal invests $20 million in Zetwerk

Aviation carrier IndiGo's promoter Rakesh Gangwal has invested $20 million in manufacturing marketplace Zetwerk through Wheelhouse Venture Capital. "His strategic guidance will be crucial in building Zetwerk into a generational company," the Business-to-Business unicorn said in a statement on March 7.

“We are delighted to share that Mr Rakesh Gangwal has invested 20 million USD in Zetwerk through Wheelhouse Venture Capital. Mr Gangwal, with his extensive experience spanning several decades, brings invaluable insights into building businesses and iconic brands. His strategic guidance will be crucial in building Zetwerk into a generational company,” Zetwerk said.

The deal values Zetwerk at $2.8 billion. Greenoaks is the largest investor followed by Peak XV partners and Lightspeed.

Founded in 2018, Zetwerk became a unicorn in 2021 and has secured a total funding of $674 million till 2023. The company's unique model enables custom manufacturing of over 9 million parts, ensuring timely delivery to assembly lines for 1,800 clients across 20 countries. Notable clients include industry giants like GE, Tata Group, L&T, and ISRO.