Biotech Startup Pandorum Technologies to bag $8 Mn in a fresh funding round
Bengaluru-based biotech startup, Pandorum Technologies will raise USD 8 million (Rs 64.8 crore) in a fresh funding round from renowned investor Ashish Kacholia, Everest Finance and Investment Company (the finance arm of Everest Foods), and other investors, as per news source.
At the end of December, the board of directors of the startup passed a resolution to raise the amount by allotting approximately 43,000 Series A1 compulsorily convertible preference shares (CCPS). A major portion of the proposed fund has already been secured from investors including Kacholia, Everest Finance, Fastmover Advisory LLP, and Equipact Advisory LLP.
The startup has received support from investors like Binny Bansal’s 021 Capital and Sunil Kant Munjal. The startup's focus on tissue technology and regenerative medicine underscores its innovative approach to addressing medical challenges.
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