Pandorum Technologies Secures Funding for Tissue Engineering

Pandorum Technologies, a Bengaluru-based startup dedicated to biotechnology, is raising Rs 85 crore (approximately $10 million) in its Series B funding round led by Protons Corporate, with participation from several other investors. The board of the company has approved a special resolution for the issuance of 35,326 Series B preference shares at an issue price of Rs 23,920 each, as confirmed by regulatory filings from the Registrar of Companies.

Funding Details and Investor Contributions

Protons Corporate, managed by Anand Karbhari, is spearheading this funding round with an investment of Rs 27 crore, while Noblevast Advisory is contributing Rs 16.1 crore. Prominent angel investors such as Ashish Kacholia, Ankit Kawatra, Kishore Jagjival Gokal, Srinivas Rao Ravuri, and Kailash Ramlal Jhaveri are also involved in this fundraising initiative. According to the filings, Pandorum has already secured Rs 45 crore in this round, and the remaining capital is anticipated shortly.

Investment Purpose and Company Valuation

The newly acquired funds will be allocated for the company’s operational needs, expansion strategies, and to financially support its wholly-owned subsidiaries. Estimates from Startup Superb place Pandorum’s post-money valuation at approximately Rs 750 crore ($85 million) following this funding round.

Previous Funding Rounds

Before this current round, the company obtained $11 million last year as an extension of its Series A funding. Previously, Pandorum secured Rs 41 crore in 2020 and Rs 23 crore in 2017.

About Pandorum Technologies

Founded in 2011 by Arun Chandru and Tuhin Bhowmick, Pandorum Technologies focuses on developing lab-grown human tissues for drug discovery and regenerative medicine. The company’s engineered liver and corneal models, created on a proprietary bioprinting platform, are employed by pharmaceutical companies for high-accuracy testing and research.

Business Model and Financial Performance

Pandorum generates revenue through contract research, licensing, and long-term co-development partnerships, positioning itself among the few intellectual property-rich deep-science ventures in India. The company has yet to file its FY25 financial numbers; however, in FY24, it remained in the pre-revenue stage while recording losses of Rs 28.2 crore.