Whizzo, a materials science–focused manufacturing startup, has secured INR 98.28 crore (USD 11 million) in its Series A funding round, marking a 3.5x surge in valuation from its previous round. The fresh capital was led by The Fundamentum Partnership, with continued participation from existing investors Lightspeed India and BEENEXT.
This latest round comes less than a year after Whizzo’s seed fundraise of USD 4.2 million (~INR 37.53 crore) in January 2025. The earlier round was instrumental in establishing Whizzo’s R&D base, design lab for engineered textiles, and a cross-border supply chain spanning India, Vietnam, China, Bangladesh, and Indonesia.
Whizzo Funding Details and Valuation Surge
According to Whizzo’s filings with the Registrar of Companies (RoC), the board approved the issuance of 60,317 Series A compulsory convertible preference shares (CCPS) at INR 16,140 per share, resulting in a total raise of INR 98.28 crore.
- The Fundamentum Partnership led the round with an investment of INR 70 crore.
- Lightspeed India and BEENEXT contributed INR 19 crore and INR 8.3 crore, respectively.
Post-funding, Whizzo’s valuation has climbed to INR 435 crore (USD 49.4 million), up from approximately INR 125 crore during its seed stage — reflecting a 3.5x increase in less than a year. The funds are earmarked for capital expenditure, marketing, working capital, and general corporate purposes, as Whizzo scales its manufacturing and materials innovation capabilities.
Shareholding Structure Post-Series A
Following the latest infusion, Lightspeed India remains the largest external shareholder with a 19.5% stake. The Fundamentum Partnership now holds 16.11%, while BEENEXT owns 8.48%. Founder Shrestha Kukreja retains 48.22% ownership, and an Employee Stock Option Pool (ESOP) accounts for 7.52% of the company’s equity.
Innovation in Materials Science and Technical Textiles
Founded in 2024 by Shrestha Kukreja, a former Zetwerk executive and IRMA gold medallist, Whizzo is redefining the landscape of fashion-engineered and technical textiles. The company specializes in proprietary cellulosic and polymer-based fiber blends designed for applications across multiple industries, including medtech, packtech, indutech, clothtech, and beyond.
Whizzo’s approach integrates advanced materials R&D with a Contract Development and Manufacturing Organization (CDMO) model, enabling faster product development and reduced time-to-market.
“Our vision is to establish Whizzo as an IP-driven leader in fashion-engineered and technical textiles,” said founder Shrestha Kukreja. “By creating proprietary blends and leveraging a cross-border CDMO model, we aim to transform the textile industry through innovation, sustainability, and global connectivity.”
Strategic Backing and Market Context
Romit Mehta, Vice President of Investments at Lightspeed India, emphasized that technical textiles and man-made fibers represent the future of the global textile market, noting India’s growing leadership in the sector, driven by policy support and entrepreneurial talent.
Saksham Pant, Principal at BEENEXT, echoed the sentiment, stating that innovation and sustainability are essential for modernizing one of India’s oldest industries. “Whizzo is leading this transformation through advanced technology and eco-conscious practices,” Pant remarked.
The Indian technical textiles market, valued at USD 45 billion (~INR 4.02 lakh crore) in 2026, is projected to expand to USD 123 billion (~INR 10.99 lakh crore) by 2035, driven by sectors such as healthcare, infrastructure, defense, and agriculture. Whizzo’s solutions — spanning clothtech, mobiltech, packtech, and agrotech — position it as a pivotal enabler of this growth.
Outlook
With its Series A funding secured and valuation sharply elevated, Whizzo is entering a phase of industrial scaling and global expansion. The startup aims to consolidate its IP portfolio, enhance production capacity, and establish itself as a category-defining player in engineered materials and sustainable manufacturing.
In less than two years since inception, Whizzo has transitioned from a promising seed-stage venture to a high-growth company attracting prominent venture capital support — a clear testament to India’s rising momentum in deep-tech and advanced manufacturing.
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