Private Equity

PE-VC Fund Investments

Oncology player Zumutor Biologics raises $7.3 M led by Accel, Bharat Innovation Fund

Inc42   Zumutor Biologics  

Bengaluru-based Zumutor Biologics has raised USD 7.3 million in a Series B funding round led by existing investors Accel India and Bharat Innovation Fund, with participation from new investors Premji Invest and angel investors Ashish Kacholia and Raj Dandu.Founded in 2013 by Kavitha Iyer Rodrigues, the company develops immunotherapy drugs that activate natural killer cells to target tumours and improve cancer treatment outcomes. The company plans to use the new funds to complete an ongoing US FDA Phase 1 clinical study of its drug, ZM008, as both a monotherapy and in combination regimens. The capital will also support the initiation of Phase 1B expansion cohorts and global Phase 2 studies, including in India.The company, which maintains its headquarters in the US and operates an R&D laboratory in Bengaluru, had earlier raised USD 6.2 million in a Series A4 funding round led by Siana Capital in 2021.

Between Aug 2015 and Aug 2025, Zumutor Biologics had attracted about $ 21 M from Aarin Capital, Accel India, Chiratae Ventures, KITVEN, Bharat Innovation Fund, Siana Capital and 3i Partners.For FY25, Zumutor Biologics had reported about INR 4 Cr in Operating Income and about INR 4 Cr in Net Loss.