Zetwerk Manufacturing set to raise $250 million at $2.5 billion valuation

Zetwerk Manufacturing, a contract maker of consumer goods and capital goods, is stitching together a $250-million funding round led by US-based Iconiq Capital and Greenoaks, three people with knowledge of the development said.

The round would value the company at close to $2.5 billion pre-money, almost double of what it commanded in August this year when it had raised $150 million from investors led by D1 Capital at a $1.33 billion valuation and joined the growing list of unicorns this year, they said.