Pandorum Technologies to Raise $10 Million for Tissue Engineering Scale-Up
- Pandorum plans to raise $10 Million in a Series B round led by Protons Corporate.
- Funds will support expansion, operations, and subsidiary growth.
- Startup develops lab-grown human tissues for drug discovery and regenerative medicine.
Bengaluru-based biotech startup Pandorum Technologies is in the process of raising Rs 85 crore (around $10 million) in its Series B funding round, marking a key step in its next phase of growth. The round is being led by Protons Corporate, with additional participation from Noblevast Advisory and several prominent angel investors.
According to recent regulatory filings, Pandorum’s board has approved the issuance of 35,326 Series B preference shares at Rs 23,920 each. Protons Corporate, managed by Anand Karbhari, is set to invest Rs 27 crore, while Noblevast Advisory is contributing Rs 16.1 crore. Angel investors including Ashish Kacholia, Ankit Kawatra, Kishore Jagjival Gokal, Srinivas Rao Ravuri, and Kailash Ramlal Jhaveri are also expected to take part.
The filings show that Pandorum has already received Rs 45 crore from the proposed round, with the remaining capital expected to come in soon. Estimates shows the company’s post-money valuation will be around Rs 750 crore (approximately $85 million) once the round is completed.
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Founded in 2011 by Arun Chandru and Tuhin Bhowmick, Pandorum is known for developing lab-grown human tissues, including engineered liver and corneal models. Built on the company’s proprietary bioprinting platform, these models are widely used in pharma research for precise drug testing and regenerative medicine applications.
Pandorum generates revenue through contract research, licensing, and co-development partnerships, positioning it among India’s most IP-driven biotech startups.
Before this, the company raised $11 million in a Series A extension last year and earlier secured Rs 41 crore in 2020 and Rs 23 crore in 2017. Pandorum remains in the pre-revenue stage, recording Rs 28.2 crore in losses in FY24. FY25 financials are yet to be filed.
