Pandorum Technologies Set to Raise INR 85 Cr in Series B Led by Protons Corporate

The fresh capital will support Pandorum’s operational requirements, expansion activities, and provide financial backing to its wholly-owned subsidiaries.

Pandorum Technologies, a Bengaluru-based biotechnology company focused on tissue engineering, is set to raise INR 85 crore in its Series B round led by Protons Corporate, according to regulatory filings accessed from the Registrar of Companies.

The company has already received INR 45 crore, with the remaining amount expected to be infused shortly.

According to the filings, the board has approved the issuance of 35,326 Series B preference shares at an issue price of INR 23,920 each. Protons Corporate, managed by Anand Karbhari, is leading the investment with an investment of INR 27 crore, while Noblevast Advisory is contributing INR 16.1 crore. The round also features participation from well-known angel investors, including Ashish Kacholia, Ankit Kawatra, Kishore Jagjival Gokal, Srinivas Rao Ravuri, and Kailash Ramlal Jhaveri.

The fresh capital will support Pandorum’s operational requirements, expansion activities, and provide financial backing to its wholly-owned subsidiaries.

This fundraising adds to Pandorum’s previous rounds, which include INR 91 crore (USD 11 million) raised last year as an extension of its Series A. Earlier, the company secured INR 41 crore in 2020 and INR 23 crore in 2017.

Founded in 2011 by Arun Chandru and Tuhin Bhowmick, Pandorum Technologies develops lab-grown human tissues used in drug discovery and regenerative medicine. Its engineered liver and corneal models, built on a proprietary bioprinting platform, are deployed by pharmaceutical companies for high-precision testing and research.

Pandorum’s business model includes contract research, licensing, and long-term co-development partnerships, positioning it among India’s IP-driven deep-science ventures.

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

Stay tuned for more such updates on Digital Health News