Zetwerk bets big on defence, investing Rs 350 crore, to acquire European company
manufacturing startup Zetwerk is betting big on the defence market and is looking to invest up to Rs 350 crore in the next few years to acquire foreign companies involved in manufacturing components for electronic warfare, setting up a new test facility in Tamil Nadu and creating a new drone manufacturing unit.
In an interview with ET, Vishal Chaudhary, co-founder at Zetwerk, said the company is in advanced stages of acquiring firms that specialise in high precision manufacturing, which will compliment its current portfolio of electronic warfare equipment. The executive said the acquisition would be in the Rs 50-75 crore range and would most likely be from Europe.
“We have to be very selective in the choice. At the end of the day, the application is aerospace and defence, so that sort of narrows the world and then there are certain international regulations where you can go and where you can’t. So, Europe is one of those potential areas where there are some very good companies,” Chaudhary said, adding that negotiations are at an advanced stage and the acquisition could be completed within six months.
Zetwerk has already acquired Pinaka Aerospace Solutions, which manufactures electronic warfare equipment of all sizes—from aircraft-based systems to ground sensors and vehicle-mounted systems. The company is targeted to achieve revenues of Rs 220 crore.
Zetwerk also plans to add a new drone manufacturing facility.
“As a manufacturing company, we are also actively exploring opportunities of drones/UAV manufacturing
