New Delhi, Jan. 20 -- Textile CDMO firm Whizzo, travel-tech startup WanderOn, deep-tech company Raana Semiconductors, MSMEs-focused lending platform Intellend, online commerce firm For Real, AI-led women's health digital clinic Pinky Promise, snacking brand Troovy, and AI analytics platform provider FireAI have raised fresh capital in recent funding rounds.

Whizzo

Whizzo, a materials science-driven textile contract development and manufacturing organization (CDMO) focused on developing and manufacturing engineered and technical textiles for various applications, has raised $15 million (Rs 136 crore) in a Series A funding round led by Fundamentum, with participation from South Korea-based LB Investment and existing investors Lightspeed and BEENEXT.

The round marks LB Investment's first direct investment in India.

Founded in 2024 by former Zetwerk executive Shrestha Kukreja, Whizzo positions itself as a CDMO platform for technical textiles, combining materials research, formulation, prototyping, and manufacturing under one roof.

The fresh capital will be used to invest in materials science research, building in-house intellectual property, and expanding Whizzo's supply chain and R&D footprint across India and key Asian manufacturing hubs.

Whizzo also plans to double its export presence from 15 to over 30 countries and scale its network of SME and MSME manufacturing partners. The company currently works across applications such as geotextiles, agricultural textiles, protective materials, and industrial composites, aiming to sharply reduce development timelines in the global technical textiles market, valued at over $250 billion.

WanderOn

WanderOn, an experiential travel brand, has raised Rs 54 crore ($5.9 million) in a Series A funding round led by DSG Consumer Partners and Client Associates Alternate Fund.

WanderOn claims that it has crossed Rs 100 crore in revenue while remaining bootstrapped and has posted strong year-on-year growth since the pandemic.

The fresh capital will be used to expand its destination portfolio, scale high-demand categories such as adventure, sports-led and wellness travel, and invest in technology to improve the end-to-end travel journey.

WanderOn focuses on experience-led group travel for Gen Z and millennial travellers. The company said it has taken more than one lakh travellers across over 40 domestic and international destinations.

Raana Semiconductors

Deep-tech company Raana Semiconductors has raised $3 million in a seed funding round, its first institutional capital raise, led by Equirus Innovatex Fund and Artha Venture Fund, with participation from IvyCap Ventures, PointOne Capital, CIIE Initiatives, and angel investor Garimella Laxminarayana.

Raana Semiconductors specializes in Czochralski-based crystal growth systems and single-crystal materials for solar and semiconductor applications.

The company will use the funds to accelerate R&D and product development of indigenously designed Czochralski silicon ingot growth systems, initially targeting 10- to 12-inch solar-grade silicon ingots, with a longer-term roadmap toward semiconductor-grade wafers.

Raana aims to reduce India's dependence on imported silicon ingots and wafers while strengthening domestic capabilities across solar, semiconductors, defence, and strategic technologies. The company plans to commercialize its systems for the solar industry within 18 months and is targeting revenues of over Rs 200 crore in the next three-four years.

Prequate Advisory acted as the exclusive strategic advisor on the transaction.

Intellend

MSMEs-focused lending platform Intellend has raised $1.2 million in a seed funding round led by Incubate Fund Asia, with participation from M Venture Partners, Atrium Angels, and angel investor Dhananjay Tiwari.

Founded in May 2025 by Brotish Das, Som Chatterjee, and Bodhisattwa Gupta, the Mumbai-based startup is building an AI-led embedded lending platform focused on bridging India's estimated $500 billion MSME credit gap.

The fresh capital will be used to strengthen the team, accelerate product development, and scale Intellend's go-to-market strategy.

The company partners with digital merchant ecosystems and financial institutions to offer seamless, point-of-need credit to underserved MSMEs using data-driven underwriting and technology-led risk assessment.

Intellend said it has already tied up with merchant platforms serving over one lakh merchants and plans to expand partnerships and its product suite.

For Real

For Real, an organized off-price marketplace for brand inventory liquidation, has raised Rs 3.2 crore in a pre-seed funding round from Titan Capital.

Founded by Anurag Sheth and Mohit Sheth, the Delhi-based startup is building what it calls India's first online factory outlet marketplace, focused on helping brands liquidate excess inventory without impacting primary sales channels.

The fresh capital will be used to scale For Real's technology platform, expand brand collections, and drive early user adoption.

The company positions itself as a structured, brand-safe alternative to fragmented and unorganized liquidation channels, and aims to address a growing gap in India's fashion and D2C ecosystem, where inventory creation has outpaced efficient clearance.

Pinky Promise

Pinky Promise, an AI-led digital clinic focused on women's health, has raised $1 million in a pre-seed funding round led by Rebalance Angel Community.

The round also saw participation from a group of angel investors, including former Tata Consultancy Services CEO Subramanian Ramadorai and Mala Ramadorai, along with founders and senior executives from companies such as OML, insider.in, SpaceX, Boston Consulting Group, Flipkart, and PayTM.

Founded by Divya Kamerkar and Akanksha Vyas, Pinky Promise offers chat-first gynaecological care through an AI-powered platform supported by qualified doctors.

The company said the fresh capital will be used to expand integrated care offerings, roll out physical clinics, and scale clinically backed nutrition products.

Pinky Promise has so far served more than 350,000 women across India, has around 40,000 paying users, and reports strong retention.

Troovy

Snacking brand Troovy has raised $5 million in a Series A funding round led by Fireside Ventures and Sharrp Ventures, with continued participation from Spring Marketing Capital and Veltis Capital.

The Gurugram-based brand plans to use the capital to expand across e-commerce, quick commerce, and its direct-to-consumer channel, accelerate new product launches, and work toward becoming a Rs 100 crore business in the next few years.

Founded by Mansi Baranwal and Aditya Mukherjee, Troovy focuses on clean-label snacks designed through a kid-led product development process, with each product undergoing 40-50 rounds of testing with children.

The company said it has seen fivefold growth over the past five months.

FireAI

AI analytics platform provider FireAI has raised Rs 6.2 crore across pre-seed and seed rounds from investors, including Inflexion Point Ventures, Venture Catalyst, and SucSEED Indovation Fund, which invested Rs 1 crore.

The Mumbai-based company also announced the launch of what it claims is the world's first Mobile Decision Intelligence app, aimed at delivering real-time, decision-ready business insights directly to leadership teams via smartphones.

Following the fundraise, FireAI said it expects to generate Rs 9-12 crore in revenue from India and Rs 15-20 crore from international markets over the next 24-36 months.

The company plans to deploy the capital towards mobile AI optimization, security and scalability, global go-to-market efforts, and expanding enterprise adoption in India and overseas.

Published by HT Digital Content Services with permission from VC Circle.