India, July 11 -- IPO-bound contract manufacturer Zetwerk's cofounder and managing director of its precision business (electronics), Rahul Sharma, is transitioning from an executive role to a non-executive position. Sources told Inc42 that he would be looking to launch a new AI robotics venture.

The new venture is likely to be backed by Zetwerk and will also raise capital independently to fund its growth, sources added.

Sharma, who cofounded the unicorn in 2018, is currently in the market to raise capital for the new venture. An IIT Roorkee alumnus, he previously worked at BlackBuck and Schlumberger.

Questions sent to Zetwerk did not elicit a response till the time of publication.

The move comes a day after Zetwerk secured SEBI's appr...