PE-VC Fund Investments
Biotech co. Pandorum Technologies raises $10-M in Series B led by Protons Corporate
Bengaluru-based Pandorum Technologies has raised INR 45 crore (out of a target of INR 85 crore, or about USD 10 million) in a Series B round led by Protons Corporate, with participation from Noblevast Advisory and angel investors including Ashish Kacholia, Ankit Kawatra, Kishore Jagjival Gokal, Srinivas Rao Ravuri, and Kailash Ramlal Jhaveri.The company's post-money valuation is estimated at about INR 750 crore (USD 85 million) following this transaction.Founded in 2011 by Arun Chandru and Tuhin Bhowmick, Pandorum specializes in developing lab-grown human tissues for drug discovery and regenerative medicine. The company uses a proprietary bioprinting platform to create engineered liver and corneal models, which are used by pharmaceutical companies for high-precision testing and research. Pandorum Technologies monetises its services through contract research, licensing, and long-term co-development partnerships.The fresh capital will be used for operational requirements, expansion, and for providing financial support to its wholly owned subsidiaries.
Between Feb-18 and Aug-23, Pandorum Technologies had attracted about USD 24.62 M from Hero Enterprises, IAN Fund, KITVEN, Xeed Ventures, Kotak Alternate, Ashish Kacholia, and others.
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