VC Fund Investments
Biotech co Pandorum to raise $8-M from Ashish Kacholia, Everest Finance, others
Bengaluru-based biotech startup Pandorum Technologies is raising USD 8 million (INR 64.8 crore) in a fresh funding round from Ashish Kacholia, Everest Finance and Investment Company – the finance arm of Everest Foods, among others. The startup would issue 43,000 Series A 1 compulsorily convertible preference shares (CCPS) to the investors.Of the proposed amount, the firm has already raised around USD 5.8 million (INR 48.8 crore) from Kacholia, Everest Finance, Fastmover Advisory LLP, and Equipact Advisory LLP.Pandorum had earlier raised around USD 4.8 million (INR 40 crore) from Sunil Kant Munjal of Hero Enterprise in August last year.Founded in 2011 by Arun Chandru and Tuhin Bhowmick, Pandorum focusses on tissue technology and regenerative medicine.In 2018, Pandorum raised USD 3.6 million in its Series A round from Indian Angel Network, Binny Bansal’s 021 Capital KITVEN and Sunil Munjal.
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