Amrit Acharya and Srinath Ramakkrushnan, co-founders of Zetwerk, are injecting ₹600 crore into the B2B manufacturing startup, according to sources familiar with the matter. The duo has raised the amount through personal debt, which will result in a 2% increase in their combined ownership stake in the company, one source revealed.
“The founders have personally raised debt to inject additional equity into the company, resulting in their combined stake increasing by just over 2%,” the person said, adding that the fund infusion in Zetwerk is happening through a newly created entity, Creovate Innovations Pvt Ltd.
Zetwerk’s founders are boosting their stake ahead of a planned IPO, joining a growing list of new-age entrepreneurs doing the same. “IPO preparations are going on and the company should be in a place to list by the end of this fiscal or early FY27,” another person said.
According to data from Tracxn, Zetwerk co-founders Amrit Acharya and Srinath Ramakkrushnan currently hold a combined stake of approximately 14–15% in the company.
The company did not issue any official comment regarding the recent developments.
In April, as part of Zetwerk’s preparations for an initial public offering (IPO), Acharya addressed employees through an internal note. In it, he emphasized that the company must now shift its focus toward enhancing productivity, eliminating inefficiencies, and ensuring that every business unit becomes profitable.
Founded in 2018 by IIT alumni Amrit Acharya, Srinath Ramakkrushnan, Rahul Sharma, and Vishal Chaudhary, Zetwerk works with industrial and consumer companies to manufacture products via a global network of small-scale producers. The company has also expanded its footprint by operating over 10 manufacturing units across India, the United States, and Europe.
While Zetwerk is yet to release its financial results for FY25, it reported a 26% rise in revenue to ₹14,436 crore in FY24. However, the company’s net loss widened significantly to ₹919 crore, impacted by exceptional items totaling ₹372 crore.
