Whizzo Bags $4.2 Million In Seed Funding Led By Lightspeed
Whizzo, a cutting-edge materials science manufacturing startup, has secured $4.2 million in seed funding, marking a significant milestone in its journey to revolutionize the textile industry.
Founded by Shrestha Kukreja, a seasoned executive with experience at Zetwerk and an alumnus of IRMA, Whizzo aims to redefine textile manufacturing through its innovative approach that combines materials science, sustainability, and advanced technologies. The startup plans to use the raised capital to upscale its research and development (R&D) capabilities, establish a state-of-the-art design lab for fashion-engineered textiles, and strengthen its supply chain infrastructure across India, Vietnam, China, Bangladesh, and Indonesia.
With this funding, Whizzo will focus on creating proprietary textile blends using cellulosic and polymer-based fibers that cater to diverse industry needs. The startup's innovative approach promises to significantly reduce time-to-market in the textile industry. According to Kukreja, "Our vision is to establish Whizzo as an IP-driven leader in fashion-engineered and technical textiles, leveraging advanced materials science and a cross-border Contract Development and Manufacturing Organization model to address critical gaps in the sector."
Industry experts hail India's technical textiles market as a growth hotspot, with its value projected to reach $123 billion by 2035. Romit Mehta, Vice President- Investments at Lightspeed, said that "Technical textiles and man-made fibers represent the future of the textile market." He praised Kukreja for her leadership skill in driving innovation in this sector, highlighting the importance of visionary entrepreneurs like Shrestha to lead India's textile industry towards prosperity.
Saksham Pant, a Principal at BEENEXT, noted that "India's textile industry is one of its oldest, and thus demands innovation to address modern challenges such as sustainability and efficiency." He stated that Whizzo is poised to drive this transformation through advanced technology and eco-conscious practices. The venture aims to establish India as a leader in technical textiles within the next decade.
With Lightspeed at the helm and BEENEXT providing additional backing, Whizzo's future looks bright. As the startup continues its trajectory of innovation and sustainability, industry experts eagerly anticipate watching the company's growth unfold on the global stage.