Biotech startup Pandorum Technologies raises $18 Mn in Series B round

Biotech startup Pandorum Technologies has raised $18 million in a Series B funding round led by Protons Corporate, with participation from Galentic Pharma, Ashish Kacholia, Noblevast Advisory, Avinya Fund, and the Burman Family, among others.

Entrackr had exclusively reported the current development in November last year. The funding round was completed in two tranches, with the first tranche in November and the second in December.

According to Entrackr’s analysis, the company will be valued at around Rs 822 crore (around $91 million) post money.

The proceeds will be used to advance clinical programs, scale manufacturing, and expand market access across the U.S., Japan, and the Middle East. A portion of the funds will also be deployed towards strengthening regulatory and clinical capabilities.

Founded by Tuhin Bhowmick and Arun Chandru, Pandorum operates in the regenerative medicine and biotechnology space, focusing on programmable, exosome-based tissue regenerative therapies. The company has operations in India and the United States.

The brand follows a globally distributed manufacturing strategy. It has partnered with AGC Biologics for manufacturing support in the U.S. and Europe, and Nucelion Therapeutics, a subsidiary of Bharat Biotech, for supply across the Asia-Pacific region. The company is also exploring partnerships in the Middle East. 

According to TheKredible, the company has raised around $43 million to date, including the $11 million secured last year as an extension of its Series A. 

Pandorum has yet to file its FY25 financials. In FY24, the company was in a pre-revenue stage and reported losses of Rs 28.2 crore.