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Zetwerk raises Rs 100-Cr in debt from Edelweiss

Zetwerk, a Bengaluru-based business-to-business (B2B) startup, reportedly raised debt funding of approximately Rs 100 crore from a fund backed by the Edelweiss Group.

Around ₹83 crores of the funds came from the Edelweiss Credit Plus Fund, which provides loan capital to early-to mid-stage private firms, according to Mint. The capital was raised through the issuance of non-convertible debentures (NCDs).

The report further stated that Cyril Amarchand Mangaldas (CAM) was the transaction’s legal advisor, and Perigon Consillario LLP was the investment banker.

Zetwerk (Zetwerk Manufacturing Businesses Pvt. Ltd.), founded in 2018 by IIT alumni Amrit Acharya, Srinath Ramakkrushnan, Rahul Sharma, and Vishal Chaudhary, provides manufacturing solutions to businesses such as fabrication, machining, casting, moulding, onsite services, extrusion, stamping, forging, etc.

The category II alternative investment fund (AIF) Edelweiss Credit Plus Fund focuses on opportunities in the mid-market for performing credit space. Firms, primarily in the fintech industry, such as Cashe and Spandana Sphoorty, can get short-term capital for 1-3 years.

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BRL Editor
BRL Editor
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