With participation from current investors Lightspeed India and BEENEXT, Whizzo, a materials science manufacturing startup, has started its Series A round by raising Rs 97.36 crore ($11 million), lead by The Fundamentum Partnership.
Key Highlights
- Whizzo kicks off Series A raising $11 million led by The Fundamentum Partnership and others.
- Post-money valuation jumps to approximately Rs 435 crore ($49.4 million) — about 3.5× the seed round.
In 2025, this is the company's second fundraising event. In January, it raised $4.2 million from Lightspeed and BEENEXT for its seed round.
According to its registration with the Registrar of Companies (RoC), Whizzo's board approved the issuance of 60,317 Series A compulsory convertible preference shares (CCPS) at an issue price of Rs 16,140 apiece in order to raise the aforementioned sum.
The Fundamentum Partnership, a new investor, will lead the round with an investment of Rs 70 crore, while BEENEXT and Lightspeed, two current investors, will contribute Rs 8.3 crore and Rs 19 crore, respectively.
The document states that the money will be utilized for general corporate objectives, marketing, working capital requirements, and capital expenditures.
Analysis indicates that Whizzo's value, which was approximately Rs 125 crore in its $4.2 million seed round, will increase by nearly 3.5 times to Rs 435 crore ($49.4 million) post-money.
Whizzo, which was founded in 2024 by former Zetwerk executive Shrestha Kukreja, creates exclusive textile blends, such as cellulosic and polymer-based fibers, that are designed for a variety of industry uses and quicker time to market.
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With a 19.5% ownership with the most recent injection, Lightspeed India will continue to be the biggest external shareholder, according to startup data platform TheKredible. BEENEXT will own 8.48% and the Fundamentum Partnership 16.11%. The company has an ESOP pool of 7.52%, while its founder, Shrestha Kukreja, will keep 48.22% of the company.
The one-year-old business has not yet released its financial statements for the fiscal year that concluded in March 2025.
