Zetwerk, a Business-to-Business (B2B) manufacturing marketplace, on July 13 announced the appointment of Pulkit Bhandari as the company's Chief Financial Officer.
Bhandari was the Head of Group Corporate Finance at RPG Enterprises before joining Zetwerk. He also held the role of an investment banker at Deutsche Bank and ICICI Securities. Bhandari is a Chartered Accountant and has a Bachelor's degree in Commerce.
"Bhandari's profound 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," said Amrit Acharya, cofounder and CEO of Zetwerk Manufacturing.
In his role as CFO, Bhandari will be responsible for closely collaborating with the founders on strategy, the firm said in a media statement.
"He will anchor Zetwerk’s initiatives around financial planning and capital allocation. Pulkit will work with existing teams to strengthen the company’s financial frameworks and reorient some of the structures to make Zetwerk ready for future growth," the statement said.
Founded in 2018 by Amrit Acharya, Balaraman Ramakkrushnan, Rahul Sharma, Srinath Ramakkrushnan, Vishal Chaudhary and Ankit Fatehpuria, the company has raised $554 million in funding to date. The company counts Lightspeed, CRED founder Kunal Shah, and Oyo's Ritesh Aggarwal among its backers.
In August 2021, Zetwerk raised around $150 million in funding from D1 Capital Partners. This made the company a unicorn, with a valuation of $1.3 billion. Zetwerk's most recent funding round was in March 2023, when it raised around $12 million in debt capital from Edelweiss.
In an earlier conversation with Monecyontrol, cofounder Amrit Acharya said that Zetwerk aimed to generate $1 billion in revenue for FY23 and is even considering going public in the future if market conditions are supportive.
Presently valued at $2.7 billion, Zetwerk is a managed marketplace for contract manufacturing. It partners with the world's leading industrial and consumer enterprises to have their products manufactured via a global network of small manufacturers. The company helps with supplier selection, pricing, and order fulfillment.
Zetwerk also offers manufacturing solutions across a diverse range of industries, such as oil and gas, renewables, aerospace, infrastructure, apparel, electronics, and retail.
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