Zetwerk, a B2B marketplace for manufacturing services, has acquired Unimacts, a US-based industrial manufacturing services company, at a valuation of $39 million. The move allows the unicorn company to expand its operations to international markets (US, Europe, Mexico), strengthen its footprint in the Indian and Vietnam markets, diversify its offerings, and access Unimacts’ solar and wind-power customers. will enable. ,
As part of the acquisition, Matthew Arnold (CEO), Andrew Woglom (CFO) and Alan Hayes (COO) from the UniMects team will join the Jetworks team, bringing its total workforce to 1,900.
“This acquisition will immediately expand our presence in North America and position Jetworks for additional expansion in the months to come. We are committed to providing intelligent manufacturing for our customers, partners and our planet,” said Amrit Acharya, Founder and CEO of Jetworks. Excited to start a new era.
Zetwerk is also targeting to reach $1 billion in revenue 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.
“For the past decade, we have been working to strengthen our global supply chain and contract manufacturing businesses to better serve customers throughout North America and Western Europe,” said Matthew Arnold, CEO of Unimects. He further added, “Partnering with Jetworks will help us accelerate our growth and global reach and provide more comprehensive solutions to our customers. With the recent $1.2 trillion infrastructure bill and the 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 enter this market through this partnership.
Zetwerk was founded in 2018 by Amrit Acharya, Ankit Fatehpuria, Rahul Sharma, Srinath Ramakrishnan and Vishal Chowdhary. The Bengaluru-based company has raised $554 million so far and has a network of 10,000 factories across the globe, according to data platform Tracxn. Other companies operating in a similar space include Bizznis, Fashinza, Venwiz, Sourceify, and more.
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