Consumer and capital goods manufacturer Zetwerk has set up a fully owned subsidiary to manufacture critical products for the aerospace and defence sector, the company said.
The subsidiary- Zetwerk Aerospace – will manufacture satellites, composite products and rocket casings for the Indian defence sector, it added. It also plans to make components for aircraft for international OEMs. In February, Zetwerk raised $120 million in a Series D funding round led by US-based Greenoaks Capital and Lightspeed, taking its overall fundraiser close to $200 million. Sequoia Capital India and Kae Capital also participated in the round.
“Indian aerospace and defence manufacturing ecosystem is at the cusp of massive transformation for the next two decades. Enabled by a strong push for Make in India, Zetwerk is thrilled to partner with the key stakeholders to catalyze a strong shift in the manufacturing footprint from other countries to India,” said Srinath Ramakkrushnan, chief operating officer, Zetwerk Manufacturing.
“We will collaboratively pursue technology partnerships with Indian and foreign OEMs to address the growing demands of clients in the aerospace and defence sectors. We will continuously invest in engineering and manufacturing capabilities strongly in the coming years,” he added.
Zetwerk has also formed a joint venture company, Zetwerk Kinetix Technologies Pvt Ltd, which will develop and build niche-technology products in the areas such as UAVs, protection system, rocket motor transportation systems and defence systems.
Zetwerk Kinetix has set up a manufacturing facility in Hosur, Tamil Nadu, to manufacture such niche-technology products. It will also invest in tapping the capabilities and capacities of other SME suppliers in the Indian production ecosystem.
The company said that it ensures right match for specifications at competitive costs and lead times and offers quality monitoring through indigenously developed technology that provides end-to-end transparency from purchase orders to delivery, eliminating uncertainties around quality, visibility, reliability, and under-utilized capacities.
Zetwerk works with more than 2000 suppliers and has made on-time execution and delivery of more than 1000 projects in over 15 countries.
Incorporated in December 2017, Zetwerk has forged deep strategic partnerships across three key manufacturing categories: precision parts, capital goods and consumer goods for across sectors ranging from bridges and oil rigs, electric vehicles, custom-made aerospace components, defence equipment, televisions to luxury apparel.