Bangalore-based manufacturing unicorn Zetwerk's revenue jumped six times to Rs 4,961 crore in financial year 2022 from Rs 835 crore, The Economic Times reported. However, its losses remained unchanged at Rs 42 crore owing to non-cash employee stock ownership expenses. In the previous financial year Zetwerk's loss came in at Rs 41.2 crore.
The revenue jumped on the back of growth in its consumer manufacturing business and from its international clients, The Economic Times said attributing it to Zetwerk's co-founder Amrit Acharya.
Zetwerk’s revenue from consumer manufacturing account for 30 per cent of its overall revenue while international operations contribute 16 per cent.
The US market contributes almost 70 per cent of the firm’s international revenue.
At an operating level, the startup unicorn said it recorded earnings before interest, taxation, depreciation and amortisation (Ebitda) of Rs 57 crore.
Its total gross merchandise value (GMV) in FY22 also grew six-fold to Rs 5,718 crore from Rs 951 crore in the year-ago period, the report added.
Zetwerk was founded in 2018 and became a unicorn in 2021.
Zetwerk’s custom manufacturing platform helps customers convert their digital designs into physical products. Zetwerk offers customers access to a wide range of manufacturing capabilities, including metal fabrication, CNC machining, plastic injection moulding, 3D printing and aluminum die castings, across 1000s of manufacturing partners. These capabilities serve a diverse set of industries ranging from traditional ones such as Oil & Gas, Energy, Infrastructure, Aerospace, Apparel to modern ones such as Renewables, Electric Vehicles, Consumer Electronics, and Space.
Zetwerk offers manufacturing solutions across a diverse range of products, from simple items like steel pipes to complex products like aircraft engine components, from industrial use-cases like metal bridges, oil rigs, aircraft/auto components to consumer use-cases like apparel, home appliances, audio-visual electronics, for small businesses and Fortune 500 companies alike.
Zetwerk’s global manufacturing network ensures products are manufactured faster, at competitive prices and with world-class quality and spans a broad range of capabilities, including Metal Fabrication, CNC Machining, Aluminum Die Casting, 3D Printing and Plastic injection moulding.