Bengaluru-based biotechnology innovator Pandorum Technologies is set to raise USD 10 million(~INR 89.50 crore) in its Series B funding round, marking another milestone in its decade-long pursuit of breakthroughs in tissue engineering and regenerative medicine. The round is being led by Protons Corporate, joined by a distinguished consortium of institutional and angel investors.
Funding Structure and Investor Participation
Pandorum Technologies’ board approved a special resolution authorizing the issuance of 35,326 Series B preference shares at an issue price of INR 23,920 each. The financing round is spearheaded by Protons Corporate, managed by Anand Karbhari, which is investing INR 27 crore. Noblevast Advisory follows with INR 16.1 crore, while several high-profile angel investors — including Ashish Kacholia, Ankit Kawatra, Kishore Jagjival Gokal, Srinivas Rao Ravuri, and Kailash Ramlal Jhaveri — have also participated.
The company has already received INR 45 crore, with the remaining funds expected to be infused shortly. Upon completion, Pandorum’s post-money valuation is projected at approximately INR 760 crore (USD 85 million), according to estimates by Entrackr.
Strategic Use of Funds
The newly raised capital will be deployed toward operational expansion, research and development, and support for Pandorum’s wholly owned subsidiaries. These efforts are intended to accelerate the company’s transition from pre-clinical to clinical phases across multiple therapeutic verticals, consolidating its position as one of India’s leading deep-science ventures in biotechnology.
Pandorum Technologies: Background and Previous Rounds
Founded in 2011 by Arun Chandru and Dr. Tuhin Bhowmick, Pandorum Technologies has built a global reputation in tissue engineering, particularly through its proprietary bioprinting platform. The company develops lab-grown human tissues — notably engineered liver and corneal models — which are leveraged for drug discovery, regenerative medicine, and precision testing by leading pharmaceutical companies.
Before this round, the company raised USD 11 million (~INR 98 crore) in March 2024 during its pre-Series B phase. That round drew participation from Ashish Kacholia, Everest Finance Investment, Acebright Pharma, and Bandana Kankani’s syndicate, alongside existing backers Sunil Kant Munjal and the Indian Angel Network. The pre-Series B capital was directed toward advancing Pandorum’s flagship regenerative therapy, Kuragenx — the “Liquid Cornea”, aimed at curing corneal blindness.
Industry and Investor Endorsements
Commenting on the development, Dr. Tuhin Bhowmick, Co-Founder and CEO, noted:
“We are thrilled to have the continued support of our investors as we pioneer regenerative solutions that restore healthy tissue functions. Kuragenx blurs the line between treatment and cure, offering a transformative path for millions living with corneal blindness.”
Investor Ashish Kacholia added:
“Pandorum’s mission to cure corneal blindness showcases the immense potential of Indian deep-tech science. While commercialization will be a long journey, the societal impact could be extraordinary.”
Investor and advisor Bandana Kankani of Nexxtmile highlighted the broader implications:
“Pandorum represents the paradigm shift underway in India’s biotech ecosystem, where indigenous innovation is now pushing the frontiers of global science.”
Outlook
With R&D facilities in Bengaluru and the San Francisco Bay Area, Pandorum continues to collaborate with global partners, benefiting from grants by India’s Department of Biotechnology. As the company progresses toward clinical deployment, its innovations hold promise not only for the biotechnology landscape but also for millions of patients awaiting breakthroughs in vision restoration and organ regeneration.
Despite being in a pre-revenue stage, Pandorum posted losses of INR 28.2 crore in FY2024, reflecting its ongoing investment in deep-tech research. However, the forthcoming Series B round of INR 89.50 crore signifies a crucial bridge toward commercial validation and sustained growth.
In summary, Pandorum Technologies’ latest funding underscores investor confidence in India’s deep-science ventures and the nation’s capacity to drive world-class innovation in regenerative medicine. With Kuragenx approaching clinical readiness, the company stands poised to redefine the future of bioengineered therapeutics.
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