The Bengaluru-based startup, which entered the coveted unicorn club in 2021, has raised $90 million in multiple tranches in 2024. The round, which values Zetwerk at about $3.1 billion, was led by entrepreneur Vinod Khosla's venture capital firm Khosla Ventures and IndiGo's co-founder Rakesh Gangwal. British investment management firm Baillie Gifford also joined as a new investor, with participation from existing backers Greenoaks and Avenir Growth.
VCCircle reported about Gangwal's Wheelhouse Venture Capital investing $20 million in the startup earlier this year.
Zetwerk plans to use the capital to support its expansion plan in areas including renewables, consumer electronics, and aerospace.
This story is from the December 20, 2024 edition of Mint New Delhi.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the December 20, 2024 edition of Mint New Delhi.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
'Adani foray into cement drives deep discounts'
Competition in India's cement sector heated up with the entrance of the Adani Group in September 2022, top manufacturers bumped up discounts to maintain market share, according to a report from British wealth manager Investec.
Capex flexibility tops states' budget wishlist
Kerala, Punjab call for special financial packages, higher borrowing limits
Tata Steel's Dutch plant gets warning
Tata Steel Netherlands will face fines of almost €27 million if it doesn't take measures within eight weeks
Banks win SC relief on 30% credit interest cap
The Supreme Court on Friday overturned the National Consumer Disputes Redressal Commission (NCDRC)'s 2008 decision to cap interest rates on late credit card bill payments at 30% per annum, bringing relief to lenders that had appealed the consumer forum's ruling.
Claims of Reliance Infratel's indirect creditors upheld
The apex court upheld ₹10,952 crore claims by four indirect creditors of Anil Ambani-led RCom's tower biz
Leave a movie midway, and get some money back
PVR Inox's move is part of efforts to widen audience base and improve movie-going frequency
Pushpa 2 most-watched film of 2024, Coldplay hot
Nostalgia also took centre stage with re-releases like Kal Ho Naa Ho, Rockstar and Laila Majnu still drawing viewers
Bombay HC upholds Adani's bid to develop Dharavi slum
The project gained momentum in 2016 under the Bharatiya Janata Party-Shiv Sena led govt
TKIL in talks with oil, steel cos for green hydrogen plants
TKIL aims for 100 MW electrolyser capacity by 2025 and has allocated ₹1,500-2,000 crore
Harsh Jain LIVING THE DREAM
The co-founder and CEO of Dream Sports talks about the correlation between academic mediocrity and success, setting the culture at the organisation, and the boom in fantasy sports in India
