Whizzo, a rapidly emerging materials science manufacturing company, opened its Series A round in 2025 by raising Rs 97.36 crore ($11 million). The Fundamentum Partnership led the investment, while existing backers Lightspeed India and BEENEXT strengthened their commitment with additional capital. This fresh round marks Whizzo’s second successful fundraise in 2025, and the company now prepares to scale its operations, strengthen its research capabilities, and widen its market presence across industries.
A Strong Start to 2025 With Back-to-Back Investments
Whizzo began the year on a promising note when it secured $4.2 million in a seed round in January 2025. Lightspeed India and BEENEXT led that early investment. The company progressed quickly since then, and it attracted even stronger investor confidence within months. With the new Series A infusion, Whizzo now stands among India’s fastest-growing deep-tech ventures in the manufacturing sector.
The board at Whizzo approved the new funding through a resolution that authorised the issue of 60,317 Series A compulsory convertible preference shares (CCPS) at Rs 16,140 per share. The resolution received clearance in filings with the Registrar of Companies (RoC), and the transaction reflects carefully structured expansion planning from the founding team and investors.
Breakdown of the Series A Funding
The Series A round attracted significant participation from both new and existing investors.
Here is how the funding breaks down:
- The Fundamentum Partnership committed Rs 70 crore, taking the lead position in the round.
- Lightspeed India added Rs 19 crore, reaffirming its strong belief in Whizzo’s long-term roadmap.
- BEENEXT contributed Rs 8.3 crore, continuing its involvement in the company since its seed stage.
This combination of new and returning investors strengthens Whizzo’s governance structure and enhances the company’s credibility within India’s expanding deep-tech ecosystem.
Valuation Skyrockets Nearly 3.5x
Whizzo’s new financing round gives the company a post-money valuation of Rs 435 crore ($49.4 million). Entrackr’s analysis indicates that this valuation marks a nearly 3.5× jump from its earlier Rs 125 crore valuation at the time of its seed round.
Such a leap in valuation within one year highlights Whizzo’s rapid traction in a niche but high-potential segment—proprietary textile materials tailored for specialised industrial applications.
Investors now see Whizzo as one of the few Indian companies building deep intellectual property in the advanced materials space. The company’s early achievements, strong leadership, and future market potential continue to attract strategic and growth-stage investors.
Where Whizzo Will Use the Funds
The company already prepared a utilisation plan for the newly raised capital. According to its RoC filing, Whizzo will channel the funds into four key areas:
- Capital Expenditure (CapEx):
The company will strengthen its manufacturing infrastructure, invest in advanced machinery, and expand its research and development capabilities. - Marketing:
Whizzo will launch targeted outreach in India and global markets to attract new customers and showcase its proprietary textile blend technologies. - Working Capital:
The firm will use part of the funding to support procurement, operations, supply chain functions, and inventory needs as it scales manufacturing volumes. - General Corporate Purposes:
This portion covers hiring, team expansion, administrative requirements, and strategic initiatives.
These investments indicate a clear push toward scaling production and building a strong brand presence within the materials science industry.
Whizzo’s Origin and Mission
Founder Shrestha Kukreja, a former executive at Zetwerk, launched Whizzo in 2024 after noticing a gap in the availability of high-performance, fast-to-manufacture textile materials for industrial use. His experience at Zetwerk gave him a deep understanding of supply chains, manufacturing processes, and scalable production strategies.
Whizzo focuses on developing proprietary textile blends, including cellulosic fibers and polymer-based fibers, which cater to various large-scale applications. The company aims to shorten the time from development to market, giving industries faster access to specialised fabrics that meet specific performance needs.
By combining advanced materials science with a nimble manufacturing approach, Whizzo positions itself as a next-generation technology leader in India’s industrial textile space.
Shareholding Structure After Series A
Startup data platform TheKredible analysed Whizzo’s latest shareholding pattern. The new numbers reveal a healthy and balanced distribution of ownership across stakeholders:
- Lightspeed India remains the largest external shareholder with 19.5% ownership.
- The Fundamentum Partnership now holds 16.11% after leading the new round.
- BEENEXT owns 8.48%, reflecting steady support from the seed stage.
- Founder Shrestha Kukreja maintains 48.22% ownership, showcasing strong founder control as Whizzo enters a rapid growth phase.
- ESOP Pool stands at 7.52%, creating room for future hiring and talent retention.
This structure gives Whizzo the right balance between founder leadership, investor oversight, and employee incentives.
Why Investors Are Betting Big on Whizzo
Whizzo operates in a sector that demands innovation, precision, and long-term research. However, the global market is shifting. Industries such as apparel manufacturing, automotive, healthcare, and industrial engineering now seek materials that offer:
- Faster development cycles
- Higher durability and performance
- Customizability
- Sustainability
- Better cost efficiency
Whizzo positions itself at the intersection of these demands. Its ability to rapidly develop and refine textile blends gives it a strong competitive edge.
Investors see three major advantages in Whizzo’s model:
- Deep R&D in a High-Barrier Industry:
Materials science requires complex research, specialised equipment, and strong intellectual property. Few startups venture into this domain, which increases Whizzo’s strategic value. - Growing Demand for Proprietary Materials:
Industries that earlier depended on generic fabrics now want performance-driven materials tailored to their needs. Whizzo steps in with precisely such solutions. - Strong Founder Background:
Shrestha Kukreja’s experience at Zetwerk gives him an operational advantage and credibility in building scalable manufacturing systems.
What Comes Next for Whizzo
The company has not yet disclosed its financial performance for the fiscal year ending March 2025. However, the fresh capital signals strong growth plans. Whizzo now aims to strengthen its technology foundation, expand production capabilities, and deepen its presence across industrial markets.
Investors expect Whizzo to introduce more advanced textile blends, enhance its IP portfolio, and explore international markets in the coming years. If the company maintains its current momentum, it may emerge as one of India’s leading innovators in the materials science sector.
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