Whizzo, started by ex

Whizzo, started by ex-Zetwerk executive, in talks to raise $25 million from Bertelsmann India Investments

Materials science and manufacturing startup Whizzo is in talks to raise $25 million (around Rs 240 crore) in a fresh funding round from Bertelsmann India Investments, people aware of the development told Moneycontrol.

The Bengaluru-based startup is being valued at around $110-120 million in the ongoing negotiations, one of the people cited above said. If the deal goes through at the current terms, Whizzo’s valuation would have more than doubled in less than a year, from around $50 million in its previous round.

Whizzo and Bertelsmann India Investments did not immediately reply to Moneycontrol’s queries.

Founded in October 2024 by Shrestha Kukreja, former head of textiles at manufacturing platform Zetwerk, Whizzo operates in technical textiles, fashion fabrics, yarns and sustainable fibres.

The company has positioned itself as a contract development and manufacturing organisation (CDMO) for technical textiles, bringing materials research, formulation, prototyping, process engineering and commercial-scale manufacturing under one roof.

Whizzo had raised around $3 million from Lightspeed Venture Partners and other investors at a valuation of roughly $15 million in its seed round in late 2024, as first reported by Moneycontrol.

The company subsequently raised around $15 million in a Series A round led by Fundamentum and Korea-based LB Investment in November 2025, with existing investors Lightspeed and BEENEXT also participating. The round valued the company at around $50 million, according to people familiar with the transaction.

The latest fundraise, if completed, would therefore mark a sharp increase in Whizzo’s valuation within its first two years of operations.

Whizzo works with B2B manufacturers across applications including geotextiles, agricultural textiles, protective and flame-retardant materials, specialty yarns, engineered apparel textiles and industrial composites. It had more than 120 SME and MSME manufacturing partners at the time of its Series A and was looking to take that network beyond 200.

The company has also been expanding its international footprint. Nearly 40 percent of its revenue came from exports when it raised its Series A, with the company targeting more than 30 export markets from 15 previously.

Earlier, Whizzo had said it would deploy the Series A capital towards materials science research, building proprietary intellectual property, expanding its supply chain and R&D presence across India and key manufacturing hubs in Asia, including Vietnam, China, Bangladesh and Indonesia.

The company operates a materials science laboratory in Gurugram, which it plans to use as a base for fundamental research and patent development. Its 65-member team at the time included a dedicated research group.

The proposed investment by Bertelsmann comes as investors increasingly look at Indian manufacturing and applied deep-tech businesses that combine technology with physical production capabilities.

Whizzo’s pitch centres on shortening product-development cycles and building proprietary materials and manufacturing capabilities in a fragmented industry.

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