Zetwerk Set for Vital Aerospace & Defense Products Production
Zetwerk, a consumer and capital goods company, has established a completely owned subsidiary to produce vital aerospace and defense products, according to the firm.
The company's subsidiary will produce satellites, composite materials, and rocket casings for the Indian defense industry, according to the company. It also intends to produce aircraft components for global OEMs (Original Equipment Manufacturer).
Zetwerk raised $ 120 million in a Series D fundraising round headed by Greenoaks Capital and Lightspeed in February, bringing the total amount raised to close to $200 million. The round was also attended by Sequoia Capital India and Kae Capital.
"For the next two decades, India's aerospace and defence industry environment is on the verge of major revolution. Zetwerk is happy to engage with key stakeholders to catalyze a strong shift in manufacturing footprint from other countries to India, thanks to a strong push for Make in India,” said Srinath Ramakkrushnan, chief operating officer, Zetwerk Manufacturing.
The company has also launched a joint venture business, Zetwerk Kinetix Technologies Pvt Ltd, that will develop and manufacture niche-technology products in areas such as unmanned aerial vehicles, protection systems, rocket motor transportation systems, and defense systems.
To manufacture such niche-technology products, Zetwerk Kinetix has established a manufacturing plant in Hosur, Tamil Nadu. It will also put money into leveraging the expertise and capacity of other SMEs in the Indian manufacturing ecosystem.
“To meet the expanding expectations of clients in the aerospace and defense sectors, we will collaborate with Indian and global OEMs to develop technology alliances. In the next few years, we will continue to invest heavily in technical and manufacturing capabilities,” he added
Zetwerk works with over 2000 vendors and has completed and delivered over 1000 projects on time in over 15 countries.
Since its founding in December 2017, Zetwerk has developed strong strategic connections in three main manufacturing categories: precision parts, capital goods, and consumer products for a wide range of industries, including bridges and oil rigs, electric vehicles, custom-made aircraft components, defense equipment, televisions, and luxury clothes.
“To meet the expanding expectations of clients in the aerospace and defense sectors, we will collaborate with Indian and global OEMs to develop technology alliances. In the next few years, we will continue to invest heavily in technical and manufacturing capabilities,” he added.