B2B marketplace for manufacturing services, Zetwerk, has acquired US-based industrial manufacturing services company, Unimacts, at a valuation of $39 million. This move will enable the unicorn company to expand its operations in the international markets (the US, Europe, Mexico), strengthen its footprint in the Indian and Vietnam markets, diversify its offerings and also provide access to Unimacts’ solar and wind-power customers.
As part of the acquisition, Matthew Arnold (CEO), Andrew Woglom (CFO), and Alan Hays (COO) from Unimacts team, will join the Zetwerk team taking its total workforce count to 1,900.
“This acquisition will immediately expand our presence in North America and position Zetwerk for additional expansion in the coming months. We are excited to usher in a new era of intelligent manufacturing for our customers, partners, and our planet,” said Amrit Acharya, Founder and CEO of Zetwerk.
Zetwerk is also targeting to hit $1 billion in revenues by the end of FY23. While this is Zetwerk’s first international acquisition, it also acquired three other Indian companies this year including Pinaka Aerospace, Sharp Tanks and Wheels India.
“Over the last decade, we have been working to scale our global supply chain and contract manufacturing businesses to better serve customers throughout North America and Western Europe,” said Matthew Arnold, CEO of Unimacts. He further added “Partnering with Zetwerk will allow us to accelerate our growth and global reach and provide more comprehensive solutions to our customers. With the recent $1.2 trillion infrastructure bill and Inflation Reduction Act, the renewable energy sectors of solar and wind in the US are poised for significant growth.
Arnold revealed that they are excited to tap into this market through this partnership.
Zetwerk was founded in 2018 by Amrit Acharya, Ankit Fatehpuria, Rahul Sharma, Srinath Ramakkrushnan, and Vishal Chaudhary. The Bengaluru-based company has raised $554 million till date as per data platform Tracxn and has a network of 10,000 factories worldwide. Other companies operating in a similar space include Bijnis, Fashinza, VenWiz, Sourcify, and more.
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