Pandorum Technologies, a biotech startup headquartered in Bengaluru, is set to secure $8 million in funding.

Pandorum Technologies, a biotechnology startup headquartered in Bengaluru, is set to raise $8 million (approximately Rs 64.8 crore) in a new funding round. Reports suggest that the funding will come from notable investors like Ashish Kacholia, Everest Finance and Investment Company (the financial arm of Everest Foods), along with others.

At the end of December, the startup's board of directors approved a resolution to raise the funds by issuing around 43,000 Series A1 compulsorily convertible preference shares (CCPS). A substantial portion of this funding, approximately $5.8 million, has already been secured from investors such as Kacholia, Everest Finance, Fastmover Advisory LLP, and Equipact Advisory LLP.

Pandorum Technologies has received backing from well-known investors like Binny Bansal's 021 Capital and Sunil Kant Munjal. The company's emphasis on tissue technology and regenerative medicine highlights its innovative approach to tackling medical challenges.