Whizzo raises $15M in Series A round led by Fundamentum to deepen R&D

Bengaluru-based materials science and manufacturing startup Whizzo has raised $15 million in a Series A round led by Fundamentum, with participation from Korea-based deep-tech investor LB Investment and existing backers Lightspeed and BEENEXT.

The round marks LB Investment’s first direct investment in India and comes as Whizzo looks to strengthen its research and development capabilities, build in-house intellectual property, and expand its supply-chain footprint across Asia.

Whizzo will use the capital to expand its science and engineering teams, invest in fundamental research, and deepen its manufacturing partnerships as it scales its technical textiles platform globally.

Founded in 2024 by former Zetwerk executive Shreshta Kukreja, Whizzo operates as a contract development and manufacturing organisation (CDMO) for technical textiles — a category of engineered, high-performance materials used in sectors such as infrastructure, agriculture, protective wear, and industrial applications. Unlike traditional manufacturers, Whizzo integrates materials research, formulation, prototyping, process engineering, and commercial-scale manufacturing on a single platform, allowing customers to move from concept to production faster.

The global technical textiles market is estimated to be worth over $250 billion and is expected to cross $400 billion by 2030, driven by demand across infrastructure, climate, and industrial applications. Despite this growth, early-stage innovation in the sector remains fragmented, with limited flexibility for rapid prototyping and iteration. Whizzo is positioning itself to address this gap by working with manufacturers to shorten development cycles and reduce the burden of product development on customers.

Whizzo currently partners with more than 120 SME and MSME manufacturers and exports to over 15 countries. The company plans to expand this footprint to 30+ countries over the next year while strengthening its supply chain across India, Vietnam, China, Bangladesh, and Indonesia. It also intends to invest in fundamental materials science research and begin filing patents as its in-house research pipeline matures.

“With nearly 40% of our revenue already coming from exports, this funding will enable us to further accelerate our materials science initiatives and scale our manufacturing network to meet global demand.

Today, we work with over 120 SME and MSME manufacturers and expect to expand this to 200+ by the end of the financial year. We are also doubling down on our exports, moving from 15 markets to 30+ in the next 12 months. Alongside strengthening our supply chain, we will invest in upstream IP, expand our science and engineering teams, and build for faster development cycles with predictable quality,” said Shreshta Kukreja, Founder of Whizzo.

The company has a 65-member team, with around 10% focused on research, including scientists and engineers specialising in polymer science, process engineering, characterisation, sustainability, and advanced textile technologies. Its materials science lab in Gurgaon leads its R&D efforts.

Fundamentum’s Co-Founder and general partner, Ashish Kumar, who is joining Whizzo’s board, said the company fits the firm’s applied deep-tech investment thesis.

“Whizzo is a standout example of Fundamentum’s Applied DeepTech thesis in the B2B supply-chain domain — a business scaling rapidly while building defensible innovation at its core. Shrestha and his team have deep expertise, strong execution discipline and a clear product-led culture, all of which show in their rising market share. The materials-science lab in particular is Whizzo’s strong long-term moat, enabling upstream research, rapid iteration, and IP creation. This capability has the potential to place India firmly on the global map for innovation in technical textiles. We’re thrilled to partner with this category-defining company in the next phase of their journey,” Kumar said.

LB Investment said Whizzo’s integrated CDMO model and focus on materials science were key to its decision to invest.

“Whizzo is a CDMO platform built with materials science at its core, bringing research, formulation, prototyping, and manufacturing together within a single structure. This integrated approach helps shorten development cycles and improve execution in technical textiles. As a Korea-based deep-tech investor, we see Whizzo’s growing materials science capabilities and IP-focused mindset as important foundations for building differentiation over time. Whizzo reflects how technology-enabled manufacturing can evolve into a competitive global business,” said Alex Lee, Head of Global Investment at LB Investment.