Pandorum has raised greater than INR 41 Cr by issuing Pre-Collection B Cumulative Compulsorily Convertible Desire Shares (CCCPS) to a number of entities
The traders embrace BTB Ventures and Karnataka Trustee Firm, amongst a number of others
Pandorum Applied sciences focuses on tissue know-how and regenerative drugs
Bengaluru-based deep tech startup Pandorum Applied sciences has raised INR 41.25 Cr from numerous traders.
In response to filings with the Ministry of Company Affairs (MCA) and accessed by Inc42, Pandorum has issued 27,590 Pre-Collection B Cumulative Compulsorily Convertible Desire Shares (CCCPS) at a face worth of INR 10 per share and a premium of INR 14,950 per share to the traders talked about under.
- 9,365 Pre-Collection B CCCPS to BTB Ventures, aggregating to a complete quantity of greater than INR 14 Cr
- 9,365 Pre-Collection B CCCPS to Capital Belief, aggregating to a complete quantity of greater than INR 14 Cr
- 5,516 Pre-Collection B CCPS to IAN Fund (Vistra ITCL) and two fairness shares, aggregating to a complete quantity of INR 8.24 Cr
- 2,006 Pre-Collection B CCPS to Kotak Funding Advisors, aggregating to a complete quantity of INR 2.99 Cr
- 1,338 Pre-Collection B CCPS to Karnataka Trustee Firm, aggregating to a complete quantity of greater than INR 2 Cr
Additional, the corporate has additionally issued two fairness shares, at a face worth of INR 1 per share and a problem worth of INR 14,950 per share, to IAN (Indian Angel Community) Fund, which is represented by its trustee Vistra ITCL.
Pandorum Applied sciences is a biotechnology firm that focuses on tissue know-how and regenerative drugs. The corporate claims that it’s proprietary know-how platform is designed to develop purposeful human tissues, equivalent to bio-engineered Cornea and Liver, supposed for medical analysis and therapeutic purposes.
Pandorum Applied sciences is supported by the Biotechnology Trade Analysis Help Council (BIRAC), Division of Biotechnology, Authorities of India. Pandorum Applied sciences was based in 2011 by Arun Chandru and Tuhin Bhowmick.
Up to now, the corporate has raised funding from Flipkart founders Sachin and Binny Bansal, Sunil Munjal, Indian Angel Community (IAN) which can also be an investor in the latest funding spherical, amongst a number of others. Pandorum raised its Collection A funding spherical value INR 21 Cr ($3.2 Mn) in 2018 from Binny Bansal, IAN and different excessive web value people (HNIs).
The corporate is engaged in making organ substitute extra inexpensive for Indians, by creating bio-engineered tissues.
It’s the primary Indian firm to 3D-print a human liver tissue for medical analysis in 2015. Final 12 months, the corporate introduced that it had bio-engineered human cornea tissue to allow scarless regeneration and imaginative and prescient restoration.
“At Pandorum, we are working to close this [transplant] gap using bio-engineering approach through stage-wise development of a platform, which is ultimately aimed to liberate us from the dependencies on the human donor. Our aim is to develop the technology to an extent that people in India should get it at an affordable cost and at the time it’s needed,” Pandorum cofounder Arun Chandru mentioned final 12 months in interplay with Inc42.
A number of the different biotech startups in India embrace Stempeutics Analysis, Sea6 Power, XCode Life Sciences amongst others.
