Zetwerk Makes Its Market Debut; Can Scale Alone Widen Its Thin Margins?

Companies change course in good times and bad. For Zetwerk, the key turn came after it raised $150 Mn from D1 Capital Part­ners in August 2021 when Indian startups raised a record $42 Bn in the calendar year. And what began as a platform to connect manufacturers to vendors and suppliers, turned into a full stack manufacturing play on the back of a bevy of acquisitions in 2021 and 2022 .