Zetwerk backs AI robotics startup launched by co-founder Rahul Sharma, who moves to non

Zetwerk backs AI robotics startup launched by co-founder Rahul Sharma, who moves to non-executive role

IPO-bound Zetwerk is backing a new AI robotics startup launched by its co-founder Rahul Sharma. The company will be an equity investor in the US-based venture, while Sharma will transition to a non-executive role, according to people familiar with the matter.

The startup will raise additional capital independently to fund its growth. Sharma is not exiting but will delegate his current operating responsibilities as he prepares to lead the new venture. Shreerang Godbole, who heads Zetwerk's Electronics business, is expected to assume those duties.

Moneycontrol could not immediately ascertain the amount that Zetwerk will be investing. The company and Sharma did not offer comments for this story.

The arrangement mirrors the model adopted by electric vehicle maker Rivian, which spun out industrial robotics startup Mind Robotics while remaining an investor. Mind Robotics has since raised more than $600 million from external investors, reaching a valuation of about $2 billion. Zetwerk, which is in the industrial manufacturing space, sees strategic value in backing Sharma’s new startup, according to one of the people cited above.

The company received approval from the Securities and Exchange Board of India (SEBI) for its proposed initial public offering (IPO) on July 10, 2026, clearing a key regulatory hurdle for the company's stock market debut. The proposed IPO will comprise a fresh issue of shares and an offer for sale by existing shareholders. The final issue size and valuation will be determined through the book-building process.

It had confidentially filed its draft IPO papers in March this year, looking to raise up to Rs 4,200 crore (about $450 million).

In April, it revamped its leadership structure and inducted former telecom and MeitY secretary Aruna Sundararajan to its board, with co-founder and CEO Amrit Acharya will take on the additional role of chairman.

While co-founder Rahul Sharma was appointed managing director of the newly created Precision Business, which includes electronics, another co-founder, Vishal Chaudhary, was named head the aerospace and defence vertical

Founded in 2018 by Amrit Acharya, Srinath Ramakkrushnan, Vishal Chaudhary, Ankit Fatehpuria and Rahul Sharma, Zetwerk operates a technology-enabled manufacturing platform connecting industrial customers with a distributed network of suppliers and manufacturing facilities across sectors such as energy, electronics, defence, aerospace and capital goods.

The company uses its proprietary Zetwerk OS platform to manage sourcing, production planning, supplier coordination and project execution.

It has expanded from a digital manufacturing marketplace into an end-to-end industrial manufacturing platform and also manufactures laptops, hearables, wearables and IT hardware while integrating backward into printed circuit board (PCB) production.

Backed by investors including Khosla Ventures, Accel, Lightspeed, Baillie Gifford, Peak XV and Rakesh Gangwal, Zetwerk reported gross merchandise value (GMV) of Rs 12,798 crore in FY25, down 11 percent from Rs 14,443 crore a year earlier. Its net loss narrowed to Rs 371 crore in FY25 from Rs 918 crore in FY24.

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