Zetwerk is a B2B marketplace platform that provides manufacturing solutions. The firm expanded the Employee Stock Option Plan by allocating 1,25,03,900 stock options to its current pool size. The company offers an online platform that connects businesses with suppliers and manufacturers to streamline the delivery and production of capital goods, custom-made components, and other products. These newly allocated employee stock option plan shares are worth Rs 541 crore.
The startup allocated these stock options under its Employee Stock Option Plan 2018. In a stock exchange filing, the company mentioned that the board approved the merging of Zetwerk’s Employee Stock Option Plan 2018 with an additional 1,25,03,900 stock options. These ESOP options will be converted to equity shares. This ESOP expansion marks a 90 percent expansion in the firm’s ESOP pool size. The firm’s total Employee Stock Option Plan is now valued at Rs 1,145 crore with 2,64,64,418 employee stock options.
The development came just after Zetwerk received $90 million at a valuation of 3.1 billion USD from Khosla Venture and The Schiehallion Fund. The B2B firm partners with offline suppliers working in the fabrication, casting, forging, and galvanizing machine parts. The company provides services for sheet metal stamping, sand casting, machinery parts manufacturing, and more. The firm also provides tools for supply chain management, quality control, and project management.
The Bengaluru-based startup has raised around 768 million USD across multiple funding rounds since its inception, including the $70 million secured during its series F funding round from Khosla Ventures, Accel, Peak XV partners, and other investors. The company also received a $20 million investment from Wheelhouse Ventures during its series F funding round.
The B2B E-commerce platform reported a 35 percent increase in its gross revenue to Rs 17,564 crore in FY24. However, the company did not disclose its financial report for this year. Zetwerk is expected to raise $1 billion through its initial public offering. This is the maiden ESOP plan for the company for this calendar year. Zetwerk joins companies like TBO Tek, Paytm, and Nykaa who increased their Employee Stock Option Plan pool size. The B2B marketplace platform faces competition from other platforms in the same market segment such as Infra Market, OfBusiness, Bijnis, and Moglix.
Conclusion :
Zetwerk expanded its employee stock option Plan by allocating 1,25,03,900 additional stock options under its Zetwerk Employee Stock Option Plan 2018. These newly allocated shares are worth around Rs 541 crore. The B2B marketplace platform offers several manufacturing solutions. The firm also provides an online platform connecting businesses with manufacturers and suppliers to streamline production and delivery of capital goods.
The board approved the addition of Zetwerk’s ESOP 2018 to these 1,25,03,900 employee stock options. The company has raised around 768 million USD across multiple funding rounds to date and it competes with platforms like Infra Market. The addition of these newly allocated stock options brought the total ESOP pool size to 2,64,64,418 stock options worth Rs 1,145 crore. The firm posted a 53 percent increase in its revenue to Rs 17,564 crore in FY24.
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