Immuneel Therapeutics, a cancer-focused biotech startup led by Biocon founder Kiran Mazumdar-Shaw, has raised Rs 100 crore ($10.5 million) in Series B funding, per an announcement.
The round saw participation from Singularity AMC, Rainmatter by Zerodha, and several high-net-worth individuals, along with existing backers Eight Roads Ventures and F-Prime Capital, besides Mazumdar-Shaw.
Founded in Bengaluru in 2019, the company develops CAR-T therapy, which is a form of cancer treatment in which a patient’s own immune cells are extracted, modified in a lab to target cancer cells, and then infused back into the body.
While the treatment is reportedly considered a global breakthrough, it has largely remained inaccessible due to its high cost and complex development process.
The company plans to use the funding to ramp up the production capacity of Qartemi, its CAR-T therapy for blood cancers, and foray into Southeast Asia and the Middle East, among others.
Immuneel last raised $15 million (Rs 116 crore) in its Series A round in 2022. The funding then saw participation from Eight Roads Ventures, True North, and F-Prime Capital, among others.
Among other biotech companies that have recently secured funding, MedGenome garnered over Rs 400 crore in its Series E round to expand its genomics and diagnostic services, while Eyestest Research raised about $10 million in Series B funding to advance its cell therapy programmes. Both these deals were clocked in 2025.
