Materials Science Startup Whizzo Nets $4.2Mn Led by Lightspeed

Materials Science Startup Whizzo Nets $4.2Mn Led by Lightspeed

SUMMARY

The funding round is led by Lightspeed, along with participation from BEENEXT

The company aims to use the funding to support the development of advanced R&D capabilities, creation of a design lab for fashion-engineered textiles

Founded in 2024 by Shrestha Kukreja, Whizzo focuses on engineered and technical textiles

Bengaluru-based materials science startup Whizzo has raised $4.2 Mn (around INR 36.34 Cr) in a seed funding round led by Lightspeed, along with participation from BEENEXT. 

The company aims to use the funding to support the development of advanced R&D capabilities, creation of a design lab for fashion-engineered textiles and the expansion of its supply chain across key Asian markets, including India, Vietnam, China, Bangladesh and Indonesia.

Founded in 2024 by Shrestha Kukreja, Whizzo focuses on engineered and technical textiles. It combines sustainability with advanced materials science, offering proprietary textile blends for industries like agriculture, automotive, and industrial manufacturing.

Notably, technical textiles are textiles that are designed for specific functions, rather than for aesthetic purposes. They are used in a variety of industries, including construction, automotive, and healthcare.

“…By creating proprietary blends and leveraging a cross-border contract development and manufacturing organisation (CDMO) model, we aim to address critical gaps and transform the textile industry through innovation, sustainability, and global connectivity,” said Shrestha Kukreja, Founder, Whizzo.

Romit Mehta, VP-Investments, Lightspeed, said, “Technical textiles and man-made fibers represent the future of the textile market. India is poised to become a global epicenter of innovation in this sector, driven by strong government support and visionary entrepreneurs.”

Notably, the funding comes as the central government has been pushing the technical textile sector recently under the National Technical Textiles Mission (NTTM), after the short success the government saw in the PPE suits amid Covid 19 pandemic. 

In August last year, the government approved grants of INR 50 Lakh each for four startups working on projects across areas such as composites, sustainable textiles and smart textiles.

Last year in June, the government approved grants of INR 50 Lakh each for seven startups in the technical textiles sector. 

Apart from the grants, the empowered programme committee (EPC) has also allocated INR 20 Cr for five educational Institutes to introduce courses related to technical textiles in their curriculum. 

This is after the committee sanctioned INR 6.4 Cr to IIT Guwahati to support the introduction of new technical textiles subjects and the enhancement of laboratory infrastructure within the institute’s Civil Engineering Department.

The centre is eyeing to support 150 startups under the initiative to promote innovations in technical textiles. Additionally, the ministry will also provide 10% of total grant-in-aid to incubators and has approved a total funding of INR 151 Cr for 26 institutes for upgrading the laboratories and developing and introducing courses on technical textiles. 

As per a report, the Indian technical textile industry is estimated to reach a market size of $309 Bn by 2047. 

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Materials Science Startup Whizzo Nets $4.2Mn Led by Lightspeed-Inc42 Media
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