IPO-bound manufacturing platform Zetwerk will back a new AI robotics startup launched by its co-founder Rahul Sharma, marking a strategic move into next-generation industrial technologies. According to people familiar with the matter, Zetwerk will participate as an equity investor in the US-based venture, while Sharma will transition to a non-executive role on the company’s board.
Although Sharma will step away from day-to-day operational responsibilities, he will continue to remain associated with Zetwerk. Meanwhile, Shreerang Godbole, who currently heads the company’s electronics business, is expected to take over Sharma’s operating responsibilities as the latter prepares to lead the new AI robotics venture.
The startup will independently raise additional capital to support its future growth. Neither the company nor Sharma commented on the development.
The structure closely resembles the model adopted by electric vehicle manufacturer Rivian, which spun out industrial robotics startup Mind Robotics while continuing to remain an investor. Since its launch, Mind Robotics has raised more than $600 million from external investors and achieved a valuation of around $2 billion. Similarly, Zetwerk sees strategic value in supporting Sharma’s new venture as it continues to expand its technology-driven manufacturing ecosystem, according to one of the people cited.
The development comes shortly after the Securities and Exchange Board of India (SEBI) approved Zetwerk’s proposed initial public offering (IPO) on July 10, 2026, clearing a major regulatory milestone for the company’s stock market debut. The proposed public issue will include a fresh issue of shares along with an offer for sale by existing shareholders, while the final issue size and valuation will be determined through the book-building process.
Earlier this year, the company confidentially filed its draft IPO papers, aiming to raise up to ₹4,200 crore (approximately $450 million).
In April, Zetwerk also revamped its leadership structure by appointing former telecom and MeitY secretary Aruna Sundararajan to its board. At the same time, co-founder and Chief Executive Officer Amrit Acharya assumed the additional role of Chairman.
As part of the organisational restructuring, Rahul Sharma became Managing Director of the newly established Precision Business, which oversees the electronics division, while co-founder Vishal Chaudhary took charge of the company’s aerospace and defence vertical.
Founded in 2018 by Amrit Acharya, Srinath Ramakkrushnan, Vishal Chaudhary, Ankit Fatehpuria and Rahul Sharma, Zetwerk operates a technology-enabled manufacturing platform that connects industrial customers with a distributed network of suppliers and manufacturing facilities across sectors including energy, electronics, aerospace, defence and capital goods.
The company manages sourcing, production planning, supplier coordination and project execution through its proprietary Zetwerk OS platform. Over the years, Zetwerk has evolved from a digital manufacturing marketplace into a comprehensive industrial manufacturing platform. It also manufactures laptops, hearables, wearables and IT hardware while expanding backward into printed circuit board (PCB) production.
Backed by investors including Khosla Ventures, Accel, Lightspeed, Baillie Gifford, Peak XV and Rakesh Gangwal, Zetwerk reported a gross merchandise value (GMV) of ₹12,798 crore in FY25, compared with ₹14,443 crore in the previous financial year. Nevertheless, the company significantly reduced its net loss to ₹371 crore in FY25 from ₹918 crore in FY24, reflecting improving financial performance ahead of its planned IPO.
By investing in Rahul Sharma’s AI robotics startup while advancing its IPO plans, Zetwerk is reinforcing its long-term strategy of combining manufacturing expertise with emerging technologies. The move also highlights the company’s intent to strengthen its innovation ecosystem while positioning itself for sustained growth in the global industrial manufacturing landscape.
