In a seed fundraising round led by international multi-stage venture capital firm Lightspeed, Whizzo, a materials science manufacturing start-up specialising in engineered fashion and technical textiles, has raised US $ 4.2 million (about Rs 36 crore).
The funding would be used for research and development (R&D) in materials science, the establishment of a fashion-engineered textile design lab, and the improvement of its supply chain infrastructure in Bangladesh, Indonesia, China, Vietnam, and India, the company stated.
Commenting on the brand’s unique offerings, Shrestha Kukreja, Founder, Whizzo, said that the goal is to position Whizzo as a leader in fashion-engineered and technological textiles driven by intellectual property. In order to fill important gaps and revolutionise the textile sector via innovation, sustainability, and worldwide connection, proprietary mixes and a cross-border Contract Development and Manufacturing Organisation (CDMO) model are being developed.
Commenting on the investment, Romit Mehta, vice president-investments, Lightspeed said that the future of the textile industry lies in man-made fibres and technical fabrics. With robust government backing and forward-thinking businesspeople, India is well-positioned to emerge as a global hub for innovation in this field.
Saksham Pant, principal, Beenext, said that being one of the oldest, India’s textile sector necessitates innovation to address contemporary issues like efficiency and sustainability. Whizzo is spearheading this change with cutting-edge technology and environmentally responsible methods.
The Bengaluru-based firm, which was founded in 2024 by Kukreja, specialises in engineered and technical textiles. It uses woven, non-woven, and composite technologies to offer solutions for a variety of industries, including Medtech, Packtech, Indutech and Clothtech. It creates textile mixes tailored for different industries, including cellulosic and polymer-based fibres. With aspirations to onboard over 100 more customers throughout regions like South America, West Asia, and Africa, as well as currently moving into Europe and Japan, Kukreja claims that the firm is now serving over 25 clients.
