New Delhi, Mar 24 (PTI) Digital B2B marketplace Zetwerk Manufacturing on Wednesday announced to have completed a Rs 60.92-crore share buyback from employees and early stage investors in the company.

The company completed the share buyback following a Rs 880-crore capital raise in series-D funding from Greenoaks, Lightspeed, Sequoia, and Kae Capital.

Zetwerk Manufacturing CEO and Co-founder Amrit Acharya in a statement said, "The aggressive growth in the past two years reflects the role played by Zetwerk employees, some of whom chose to be a part of the journey when the company existed only on paper."

He added that for the company, building a strong culture that recognises the contribution of employees is important, and "we plan to carry out this exercise even in the future as we scale up our business".

Zetwerk employs about 400 people on its rolls, up from 250 people over the same period last year.

Acharya said the buyback of shares materialises in wealth creation for the employees and re-affirms the confidence of the founders and investors in the business.

Founded in 2018, Zetwerk Manufacturing Business Pvt Ltd currently works with over 2,000 suppliers and has made on-time execution and delivery of more than 1,000 projects in over 15 countries, the statement said. HRS hrs

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