Whizzo To Raise $26 Mn From Aavishkaar Capital, Bertelsmann

What happened

The fresh round of funding comes almost six months after the startup raised around $15 Mn in its Series A (an early stage of company funding) funding round led by Fundamentum, with participation from Korean investor LB Investment Fund, and Lightspeed. Bengaluru-based Whizzo is in talks to raise around $26 Mn in its Series B funding round which could be co-led by Aavishkaar Capital and Bertelsmann Investments (BI), Inc42 learnt.

As per sources, existing backers Fundamentum, Lightspeed Ventures, among others, are also likely to participate in the round. Questions sent to Whizzo didn’t elicit any response at the time of publication of the story.

The article will be updated based on their responses. Back then, the startup said it would utilise the funds for strengthening research and development of in-house IP for materials science innovation.