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Exclusive: Gauri Khan Family Trust to back Pandorum in ongoing Series B

EntrackrEntrackr · 2m ago
Exclusive: Gauri Khan Family Trust to back Pandorum in ongoing Series B
Medial

Exclusive: Gauri Khan Family Trust to back Pandorum in ongoing Series B Pandorum Technologies, a Bengaluru-based biotechnology startup, is raising an additional Rs 71.5 crore ($8 million) in its ongoing Series B round, led by Trufort Fund Limited, with participation from Gauri Khan Family Trust and others. Pandorum Technologies is raising additional funds in its Series B round, led by Trufort Fund Limited, and including contributions from Gauri Khan Family Trust and existing investors like Protons Corporate and Noblevast Advisory. Previously, they raised a $10 million tranche led by Protons Corporate. The board has issued 29,893 Series B cumulative compulsory convertible preference shares at Rs 23,920 each, according to the Registrar of Companies (RoC). Trufort Fund Ltd will invest Rs 20 crore, Protons Corporate and Saumik Doshi Rs 10 crore each, Noblevast Advisory Rs 9.5 crore, and Gauri Khan Family Trust Rs 5 crore. Avinya Ventures and others will cover the remaining Rs 27 crore. The fresh capital will support operational needs, expansion initiatives, and subsidiaries. The company’s valuation is expected to be around Rs 822 crore ($91 million) post-money. Founded in 2011 by Arun Chandru and Tuhin Bhowmick, Pandorum Technologies develops lab-grown human tissues for drug discovery and regenerative medicine, offering engineered liver and corneal models for pharmaceutical testing. To date, the company has raised around $43 million, including $11 million as an extension of its Series A. Pandorum is yet to file FY25 numbers. In FY24, the company remained pre-revenue with losses of Rs 28.2 crore.

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Exclusive: Biotech firm Pandorum to raise $10 Mn in Series B

EntrackrEntrackr · 2m ago
Exclusive: Biotech firm Pandorum to raise $10 Mn in Series B
Medial

Pandorum Technologies, a Bengaluru-based biotechnology startup focused on tissue engineering, is raising Rs 85 crore (around $10 million) in its Series B round led by Protons Corporate, along with participation from a clutch of other investors. The company’s board has approved a special resolution to issue 35,326 Series B preference shares at an issue price of Rs 23,920 each, according to regulatory filings sourced from the Registrar of Companies. Protons Corporate, managed by Anand Karbhari, is leading the round with Rs 27 crore, while Noblevast Advisory is contributing Rs 16.1 crore. A set of well-known angel investors, including Ashish Kacholia, Ankit Kawatra, Kishore Jagjival Gokal, Srinivas Rao Ravuri, and Kailash Ramlal Jhaveri, are also participating in the fundraising. As per the filings, Pandorum has already received Rs 45 crore from this round, with the remaining capital expected to be infused soon. The fresh funds will be deployed towards the company’s operational requirements, expansion plans, and to provide financial support to its wholly-owned subsidiaries. Entrackr’s estimates peg Pandorum’s post-money valuation at around Rs 750 crore ($85 million) following this transaction. Before this round, the company had secured $11 million last year as an extension of its Series A. Earlier, it had raised Rs 41 crore in 2020 and Rs 23 crore in 2017. Founded in 2011 by Arun Chandru and Tuhin Bhowmick, Pandorum Technologies builds lab-grown human tissues for drug discovery and regenerative medicine. Its engineered liver and corneal models, developed on a proprietary bioprinting platform, are used by pharma companies for high-precision testing and research. The company monetises through contract research, licensing, and long-term co-development partnerships, positioning it among the few IP-heavy deep-science ventures in India. Pandorum is yet to file its FY25 numbers. In FY24, Pandorum remained in the pre-revenue stage while posting losses of Rs 28.2 crore.

Exclusive: EV startup Qucev raises $15 Mn in Series B

EntrackrEntrackr · 2m ago
Exclusive: EV startup Qucev raises $15 Mn in Series B
Medial

Exclusive: EV startup Qucev raises $15 Mn in Series B Qucev has raised Rs 131.25 crore ($15 million) in Series B round led by existing investor Singularity AMC with the participation of Lotus Family Trust, Volrado Venture Partners, Anchorage Capital and others. Electric commercial vehicle startup Qucev has raised Rs 131.25 crore (approximately $15 million) in Series B round led by existing investor Singularity AMC with the participation of Lotus Family Trust, Volrado Venture Partners, Anchorage Capital and others. According to its regulatory filing with the Registrar of Companies (RoC) in September 2025, Qucev’s board issued 4,467,375 Series B compulsorily convertible preference shares at an issue price of Rs 293.8 per share to raise the said amount. Singularity AMC led the tranche with an investment of Rs 25.76 crore (nearly $3 million), followed by Lotus Family Trust, which put in Rs 18.5 crore. Anchorage Capital, Volrado Venture Partners, Param Capital, and S Gupta Family Investments each invested Rs 17.98 crore. The remaining amount was contributed by other investors, including angel investors Lakshay Singhal, Anubhav Gupta and company’s founder Naresh Rawal. According to Entrackr’s analysis, the company is currently valued at around Rs 538 crore or $61 million post-money. Founded in 2022 by Naresh Rawal, Qucev is a next-generation electric commercial vehicle company in partnership with China-based EV manufacturer BYD, designs and manufactures electric tractors, trucks, buses, and three-wheelers, focusing on sustainable and cost-effective mobility. Beyond manufacturing and sales, Qucev also offers financing, charging infrastructure, and fleet solutions. According to startup data intelligence platform TheKredible, Qucev has previously raised around $4 million from Singularity AMC, Barclays and Maa Creations. For the fiscal year ended March 2025, the company did not report any product sales and generated Rs 2.08 crore from the sale of services. During the same period, it recorded a loss of Rs 9.35 crore. Qucev competes with players like Euler Motors, Altigreen, as well as established names such as Mahindra Electric, Piaggio, Kinetic Green, Tata, and others.

Exclusive: Slice set to raise over $35 Mn in funding via convertible debt

EntrackrEntrackr · 1y ago
Exclusive: Slice set to raise over $35 Mn in funding via convertible debt
Medial

Consumer lending and payments startup Slice is set to raise Rs 300 crore or nearly $36 million via convertible debt co-led by Taneja Family Trust, Anju Family Personal Trust, UK2 Family Trust, and MN Family Trust. While Blume Ventures and 8i Ventures also invest a significant chunk. The board at Slice has passed a special resolution to raise Rs 300 crore or around $36 million via the issue of up to 30,000 compulsory convertible debentures at an issue price of Rs 100,000 each, the company’s regulatory filings with the Registrar of Companies show. Taneja Family Trust, Anju Family Personal Trust, UK2 Family Trust, and MN Family Trust co-leading the round with an investment of Rs 30 crore each. Blume Ventures and 8i Ventures (Eight Innovate Investment Trust) followed with Rs 27 crore and Rs 25 crore, respectively. Other participating investors are Inland Financial Services, Mintcap Enterprises, Stargazer Ventures, Roger Bravo Advisors, and Broadbridge Capital Management. Individuals such as Krishna Kumar Karwa, Aditya Jadhav, Aryaman Jadhav, Zahir Merchant, Shikha Begwani, Nilesh Mahendra Popat, Khyati Vyas, Simran Jhaveri, Kalpana Kiran Maniar, and seven other individuals also joined the debt financing round. Founded by Rajan Bajaj, Slice provides a physical and virtual card focused on millennials. It enables students and salaried professionals to buy collateral-free products and services online on estimated monthly installments (EMIs) through an app and helps them build credit scores. While the firm is yet to report FY24 numbers, Slice grew threefold to Rs 847 crore during FY23 as compared to Rs 283 crore in FY22. With the 3X spike in employee benefits and NPAs, Slice’s losses grew 59.8% to Rs 406 crore in FY23 compared to Rs 254 crore in FY22. The Bengaluru-based firm raised nearly $400 million to date including a massive $220 million Series B round led by Tiger Global and Insight partners. According to the data intelligence platform TheKredible, Tiger Global and Insight Partners hold 7.9% and 6.6% stake, respectively while its founder and CEO Rajan Bajaj commands a 9.3% stake. The company also made headlines when it received approval from the National Company Law Tribunal (NCLT) for its merger with North East Small Finance Bank (NESFB). Both the companies announced their merger in October 2023. In March last year, Slice acquired a 5% stake in Guwahati-headquartered bank for about $3.42 million.

Biotech startup Pandorum Technologies raises $18 Mn in Series B round

EntrackrEntrackr · 12d ago
Biotech startup Pandorum Technologies raises $18 Mn in Series B round
Medial

Biotech startup Pandorum Technologies raises $18 Mn in Series B round Biotech startup Pandorum Technologies has raised $18 million in a Series B funding round led by Protons Corporate, with participation from Galentic Pharma, Ashish Kacholia, Noblevast Advisory, Avinya Fund, and the Burman Family, among others. Entrackr had exclusively reported the current development in November last year. The funding round was completed in two tranches, with the first tranche in November and the second in December. According to Entrackr’s analysis, the company will be valued at around Rs 822 crore (around $91 million) post money. The proceeds will be used to advance clinical programs, scale manufacturing, and expand market access across the U.S., Japan, and the Middle East. A portion of the funds will also be deployed towards strengthening regulatory and clinical capabilities. Founded by Tuhin Bhowmick and Arun Chandru, Pandorum operates in the regenerative medicine and biotechnology space, focusing on programmable, exosome-based tissue regenerative therapies. The company has operations in India and the United States. The brand follows a globally distributed manufacturing strategy. It has partnered with AGC Biologics for manufacturing support in the U.S. and Europe, and Nucelion Therapeutics, a subsidiary of Bharat Biotech, for supply across the Asia-Pacific region. The company is also exploring partnerships in the Middle East. According to TheKredible, the company has raised around $43 million to date, including the $11 million secured last year as an extension of its Series A. Pandorum has yet to file its FY25 financials. In FY24, the company was in a pre-revenue stage and reported losses of Rs 28.2 crore. Disclaimer: Bareback Media has recently raised funding from a group of investors. Some of the investors may directly or indirectly be involved in a competing business or might be associated with other companies we might write about. This shall, however, not influence our reporting or coverage in any manner whatsoever.

Exclusive: Slice raises $8.6 Mn from CEO Rajan Bajaj

EntrackrEntrackr · 1y ago
Exclusive: Slice raises $8.6 Mn from CEO Rajan Bajaj
Medial

Consumer lending and payments startup Slice has raised Rs 71.7 crore (approximately $8.6 million) from its founder and CEO, Rajan Bajaj, via partly paid-up shares. This follows the company’s recent Rs 300 crore debt funding round, raised through convertible debentures co-led by Taneja Family Trust, Anju Family Personal Trust, UK2 Family Trust, and MN Family Trust. According to a special resolution passed by Slice’s board, 22,000 equity shares will be issued at an issue price of Rs 32,606 each, as per the company’s regulatory filing with the Registrar of Companies. Bajaj’s investment will be completed in one or more tranches and is designated for general business purposes. Slice offers a physical and virtual card aimed at millennials, allowing students and salaried professionals to purchase products and services online with collateral-free EMIs through its app, while also helping users build credit scores. The Bengaluru-based company has raised nearly $400 million in funding, including a $220 million Series B round led by Tiger Global and Insight Partners. According to TheKredible, Tiger Global is the largest stakeholder, followed closely by Insight Partners. See TheKredible for the complete shareholding pattern. While FY24 numbers are yet to be disclosed, Slice saw threefold growth in FY23, with revenue climbing to Rs 847 crore from Rs 283 crore in FY22. However, in pursuit of growth, Slice’s losses up by 59.8%, to Rs 406 crore in FY23 compared to Rs 254 crore in FY22. In 2024, several startup founders and executives have reinvested in their companies. Recently, Yubi founder and CEO Gaurav Kumar invested $30 million in his startup, while Oyo founder Ritesh Agarwal contributed $100 million through his Singapore-based entity, Patient Capital. Co-founders of EV firm Ather Energy, Tarun Mehta and Swapnil Jain, also invested $10 million in their company. Omnichannel jewelry startup Giva also raised an undisclosed sum from its senior management.

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