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Exclusive: Manufacturing startup Whizzo to raise $11 Mn at 3.5x valuation jump

EntrackrEntrackr · 2m ago
Exclusive: Manufacturing startup Whizzo to raise $11 Mn at 3.5x valuation jump
Medial

Whizzo, a materials science manufacturing company, has begun its Series A round by raising Rs 97.36 crore ($11 million), led by The Fundamentum Partnership with participation from existing investors Lightspeed India and BEENEXT. This is the company’s second fundraise in 2025. It previously secured $4.2 million in its seed round from Lightspeed and BEENEXT in January. The board at Whizzo passed a resolution to approve the issue of 60,317 Series A compulsory convertible preference shares (CCPS) at an issue price of Rs 16,140 each to raise the above-mentioned amount, as per its filing from Registrar of Companies (RoC). New investor, The Fundamentum Partnership will lead the round with a Rs 70 crore investment, while existing backers Lightspeed and BEENEXT will invest Rs 19 crore and Rs 8.3 crore respectively. According to the filing, the funds will be used for capital expenditure, marketing, working capital needs, and general corporate purposes. According to Entrackr’s analysis, Whizzo’s valuation is set to rise nearly 3.5x to Rs 435 crore ($49.4 million) post-money from about Rs 125 crore in its $4.2 million seed round. Founded in 2024 by former Zetwerk executive Shrestha Kukreja, Whizzo develops proprietary textile blends, including cellulosic and polymer based fibers, tailored for diverse industry applications and faster time to market. According to startup data platform TheKredible, Lightspeed India will remain the largest external shareholder with a 19.5% stake after the latest infusion. The Fundamentum Partnership will hold 16.11%, while BEENEXT will own 8.48%. Founder Shrestha Kukreja will retain 48.22% ownership, and the company has an ESOP pool of 7.52%. The one-year-old company is yet to disclose its financials for the fiscal year ended March 2025.

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Manufacturing startup Whizzo raises $15 Mn in a Series A led by Fundamentum

EntrackrEntrackr · 12d ago
Manufacturing startup Whizzo raises $15 Mn in a Series A led by Fundamentum
Medial

Materials science–based manufacturing startup Whizzo has raised $15 million in a Series A funding round led by Fundamentum, with participation from Korea-based deep-tech investor LB Investment and existing backers Lightspeed Venture Partners and BEENEXT. This marks LB Investment’s first direct investment in India, while Whizzo had previously secured $4.2 million in its seed round from Lightspeed and BEENEXT in January last year. The fresh capital will be used to invest in materials science research, develop in-house intellectual property, and enter fundamental research. Whizzo also plans to strengthen its R&D and supply-chain capabilities across India, Vietnam, China, Bangladesh, and Indonesia, while expanding its science and engineering team with researchers specialising in non-woven technologies and composites. Founded in 2024 by Zetwerk alum Shrestha Kukreja, Whizzo positions itself as India’s first Contract Development and Manufacturing Organisation (CDMO) platform for technical textiles. The company integrates materials research, formulation, prototyping, process engineering, and commercial-scale manufacturing under one roof. Whizzo operates in the technical textiles segment, which includes engineered materials used across infrastructure, agriculture, protective wear, and industrial applications. The global technical textiles market is currently valued at over $250 billion and is expected to cross $400 billion by 2030, driven by strong growth across application segments. The Bengaluru-headquartered startup currently works with more than 120 SME and MSME manufacturing partners and exports to over 15 countries. Over the next 12 months, Whizzo plans to double its export footprint to more than 30 countries and expand its manufacturing network. Around 40% of the company’s revenue comes from exports. Whizzo is backed by a 65-member team, with about 10% focused on research, including polymer science, process engineering, and advanced textile technologies.

Exclusive: Salesforce Venture to lead $15 Mn in app builder Rocket.new

EntrackrEntrackr · 4m ago
Exclusive: Salesforce Venture to lead $15 Mn in app builder Rocket.new
Medial

url: https://entrackr.com/exclusive/exclusive-salesforce-venture-to-lead-15-mn-in-app-builder-rocketnew-10068354 Content: Mobile app builder Rocket.new (formerly Dhiwise) is set to raise Rs 131.4 crore or $15 million in its extended Series A round led by Salesforce Ventures and existing investors Accel and Together Fund. This marks the first significant funding for the four-year-old company in three years since it raised $7 million in August 2022. According to its filing with the Registrar of Companies, Rocket.new’s board approved issuing 4,81,718 Series A1 CCPS at Rs 2,728 each to raise the specified amount. Salesforce Ventures will lead the round with an investment of Rs 74.46 crore ($8.46 million), with Accel and Together Fund also partaking in the funding. The company plans to utilize the proceeds for growth, expansion, and working capital needs. Entrackr estimates that the Surat-based company’s valuation will more than double to Rs 545 crore ($62 million) from its previous valuation of Rs 256 crore in its last funding round. Post allotment, Accel will become the largest external shareholder, holding an 18.87% stake, with Salesforce Ventures at 13.68% and Together Fund at 5.62%. Co-founders Vishal Virani and Rahul Shingala will maintain a collective 36% stake in the company. Founded in 2021 by Vishal Virani and Rahul Shingala, Rocket.new is an AI-powered no-code/low-code platform enabling users to build and launch apps, websites, and tools from simple prompts or designs. The company, according to startup data intelligence platform TheKredible, raised over $9.5 million previously from investors like Accel, India Quotient, Together Fund, and Dholakia Ventures. Rocket.new reported Rs 3.5 crore in revenue for FY24, with losses increasing by 46% to Rs 11 crore, as per its standalone financials filed with the RoC.

Stanza Living raises $13 Mn led by Alpha Wave

EntrackrEntrackr · 1y ago
Stanza Living raises $13 Mn led by Alpha Wave
Medial

Managed accommodation provider Stanza Living has raised Rs 110 crore ($13 million) in what appears to be a bridge round led by Alpha Wave. The equity round is coming after a gap of more than three years for the Delhi-based startup. The board at Stanza Living has passed a special resolution to issue 1,207 preference shares at a price of Rs 911440.17 each to raise Rs 110 crore, its regulatory filing accessed from the Registrar of Companies shows. Alpha Wave has pumped in Rs 83 Crore while Matrix Partners, Accel India and Peak XV invested Rs 27 crore cumulatively. As per startup data intelligence platform TheKredible, Stanza Living was valued at around Rs 3,900 crore ($470 million). This is a marginal jump in valuation from Rs 3,525 crore ($424 million) in the last equity round. The firm was reportedly in talks to raise funding to the tune of $25 million. Stanza Living had raised $57 million in a debt round led by Kotak Mahindra Bank and RBL Bank in March 2022 and $100 million in an equity round in April 2021. So far, it has scooped up over $230 million across equity and debt rounds. Stanza Living is a managed accommodation platform which provides co-living solutions for working professionals and students. The firm claims to have an inventory of more than 75,000 beds in 450 plus residences with a presence across 24 cities. Stanza Living’s revenue from operations surged to Rs 442 crore in FY23 from Rs 115 crore in FY22. As per TheKredible, its losses increased by 18.71% to Rs 495 crore in FY23 as compared to Rs 417 crore in FY22. The firm is yet to file its audited financial statements for FY24. Stanza Living competes with Colive, Your Space, Settl, Union Living and Coho. Last year, Tiger Global-backed home rental startup NestAway was acquired by Aurum PropTech (formerly Majesco Ltd) in a 90% haircut in valuation to $11 million.

Ultrahuman in talks to raise $120 Mn

EntrackrEntrackr · 9m ago
Ultrahuman in talks to raise $120 Mn
Medial

Ultrahuman is reportedly in talks to raise $120 million in a new round led by WestBridge Capital. The development comes a year after the Bengaluru-based company’s $35 million Series B round. Moneycontrol, which reported the development first, said that some private equity funds may also participate in the round at a valuation of $550–600 million. According to TheKredible's estimates, the company was valued at $125 million after its Series B round. It has raised over $60 million to date from investors including Zomato founder and chief executive Deepinder Goyal, Nexus Ventures, Blume Ventures, and Alpha Wave. Ultrahuman is a self-quantification platform that offers a smart ring called Ring Air, a glucose monitoring wearable called M1 Live, and a blood testing product called Blood Vision, among others. The company also launched its luxury Rare smart ring collection earlier this year. The Mohit Kumar-led company recorded a significant jump in its operating scale to $74.5 million (approximately Rs 620 crore) for the calendar year 2024 (CY24). It claimed to have reported an 11% profit before tax (PBT) and an 8% EBITDA during the same period.

Exclusive: Shadowfax kicks off Series F round at $712 Mn valuation

EntrackrEntrackr · 12m ago
Exclusive: Shadowfax kicks off Series F round at $712 Mn valuation
Medial

Exclusive: Shadowfax kicks off Series F round at $712 Mn valuation Logistics firm Shadowfax has secured Rs 34.2 crore (around $4 million) in its Series F round. The development has come nearly 11 months after raising $100 million in its last funding round. The board at Shadowfax has passed a special resolution to allot 5773 Series F compulsory cumulative preference shares at an issue price of Rs 59,320 each to raise Rs 34.2 crore or $4 million, its regulatory filing accessed from the Registrar of Companies shows. Mirae Asset invested Rs 17.4 crore, while Nokia Growth Partners contributed Rs 16.79 crore in the round. Shadowfax is reportedly aiming to raise $50 million, with this investment being part of a larger raise. According to Entrackr’s estimates, the Flipkart-backed company has been valued at around Rs 5,981 crore or $712 million post-allotment. The valuation might change with the flow of more funds. Shadowfax provides services to a vast network of customers with industry-leading Turnaround Time (TAT) at competitive prices. It boasts a unique crowdsourcing network comprising 125,000 monthly active delivery partners and 3.5 million registered users. The Bengaluru-based company has raised over $200 million to date. According to the startup data intelligence platform TheKredible, Eight Road Ventures is the largest external stakeholder followed by Flipkart, Newquest Asia and Nokia Growth Partners. Shadowfax reportedly plans to raise Rs 2500-3000 Cr IPO in the second half of the ongoing calendar year and the company also tapped JM Financial, Morgan Stanley and ICICI Securities as the lead bankers for the initial public offering. Shadowfax has reported a 33.2% year-on-year growth to Rs 1,415 crore during the previous fiscal year ended March 2024. Moreover, the company has managed to reduce its losses significantly by 91.7% to Rs 11.8 crore from Rs 142.6 crore in FY23. In terms of competition, Delhivery, a publicly listed company, reported Rs 8,594 crore in revenue for FY24. Ecom Express posted Rs 2,609 crore in revenue for FY24 and has secured board approval for a Rs 2,600 crore IPO. Other key competitors for Shadowfax include XpressBees, Shiprocket, and Blue Dart.

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