Contract manufacturing marketplace Zetwerk has received board approval to raise ₹565.5 crore in a funding round led by Khosla Ventures, according to market intelligence platform Tofler.

The funding round also saw participation from The Schiehallion Fund and other investors. The board authorised the issuance of 13,068,091 Series F3 compulsory convertible preferred shares, priced at ₹432.7 each.

According to the filing, Khosla Ventures will invest ₹253 crore, while The Schiehallion Fund will contribute ₹169 crore.

The manufacturer that became a unicorn in 2021 has raised a total funding of over $700 million from investors including Peak XV Partners, Lightspeed, and Mars Growth Capital.

Founded in 2018 by Ramakkrushnan, Amrit Acharya, Rahul Sharma, and Vishal Chaudhary, the company recently secured approval for its 60kW and 120kW DC fast chargers, which will be supplied to Indian Oil Corporation Limited (IOCL) and private charge point operators.

Additionally, the company announced last year a plan to invest ₹1,000 crore to enhance its consumer electronics manufacturing capabilities, diversify into new product categories, and expand its manufacturing footprint beyond northern India.