Pandorum Technologies, a Bengaluru-based biotech startup to raise USD 8 million (Rs 64.8 crore) in a fresh funding round. The funding will be sourced from renowned investor Ashish Kacholia, Everest Finance and Investment Company (the finance arm of Everest Foods), and other investors, according to media reports. The startup’s board of directors passed a resolution at the end of December to raise the amount by allotting approximately 43,000 Series A1 compulsorily convertible preference shares (CCPS). A significant portion of the proposed funding, around USD 5.8 million, has already been secured from investors including Kacholia, Everest Finance, Fastmover Advisory LLP, and Equipact Advisory LLP. Pandorum Technologies has garnered support from prominent investors such as 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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