Zetwerk, a Bengaluru-based B2B marketplace business, has joined the growing list of Indian startups preparing for an IPO

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Founded in 2018, Zetwerk connects manufacturing firms with vendors and suppliers to procure industrial machine components

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As per sources, the Lightspeed-backed business has begun talks with investment banker JP Morgan for its IPO

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According to insiders, the startup's top management has had negotiations with 2-3 other banks. The discussions are still in their early stages, and nothing has been finalised

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The unicorn, valued at $2.8 billion, plans to go public within the next two years

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The unicorn aims to lead in ODM (original design manufacturer) and electronics manufacturing for mobile phones, hearing aids, and wearables

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Zetwerk established one of north India's largest TV manufacturing factories, capable of producing 2.4 million units annually

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Earlier this year, the firm invested INR 1,000 Cr to expand its electronics production capacity in multiple categories

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The firm has received funding of nearly $700 million from Mars Growth Capital, Greenoaks Capital, and Peak XV Partners

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Zetwerk competes indirectly with Moglix, OfBusiness, and others

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