Private Equity

PE-VC Fund Investments

Material science player Whizzo raises $11-M led by Fundamentum

Entrackr  

Bangalore-based Whizzo, a materials science manufacturing company, has raised INR 97.36 crore (USD 11 million) in its Series A funding round led by The Fundamentum Partnership, with participation from existing investors Lightspeed India and Beenext. Post-infusion, founder Shrestha Kukreja will retain 48.22% ownership, Lightspeed India will hold 19.5%, The Fundamentum Partnership 16.11%, and Beenext 8.48%. The deal places the company’s valuation to INR 435 crore (USD 49.4 million) - an approximately 3.5x increase in one yearFounded in 2024 by Shrestha Kukreja, Whizzo develops proprietary textile blends, including cellulosic and polymer-based fibers, tailored for diverse industry applications and faster time to market. The company plans to utilize the freshly raised capital for capital expenditure, marketing, working capital needs, and general corporate purposes.

In Nov-24, Whizzo had attracted about USD 4.20 M from Beenext, Lightspeed Ventures, Others.