India Dealbook: Biotech startup Pandorum raises $3.6m; MoneyOnMobile gets $5m funding

Biotech startup Pandorum Technologies has raised $3.6 million from Indian Angel Network Fund, 021 Capital, and others, while fintech firm MoneyonMobile has got $5 million from S7 Group.

Biotech firm Pandorum raises $3.6m from IAN, O21 Capital, others

Biotech startup Pandorum Technologies has raised $3.6 million from Indian Angel Network Fund, 021 Capital, 500 Startups and the Karnataka government backed Karnataka Information Technology Venture Capital (KITVEN) fund.

According to a report in The Economic Times quoting filings sourced by, the Series A round of funding also saw participation from Hero Enterprise chairman Sunil Kant Munjal in his personal capacity and along angel investors from Indian Angel Network.

Founded in 2011, Pandorum develops 3D-printed human tissues for medical research and therapeutics. The Bengaluru-based company plans to use the latest funding to scale up operations, hire talent and deepen research and development.

“The current fundraise is to help us to make the transition from advanced prototype to market ready product stage. This will include capacity enhancement in key areas including team, tech, infrastructure, scale up and regulatory compliance,” said Tuhin Bhowmick, cofounder of Pandorum Technologies told the newspaper.

MoneyOnMobile raises $5m from Russia’s S7 Group

Shortly after it raised $7.6 million debt, fintech startup MoneyOnMobile has raised $5 million in Series F round of funding from S7 Group.

According to an official statement, this latest funding was raised through the issuance of Series H Convertible Preferred Shares.

“This capital infusion will enable us to continue to execute our business plan and drive growth across our product lines. As part of the deal we will bring to our board a strategy for how to leverage technologies the S7 Group has used to identify new growth opportunities, and will benefit from their experience in this area,” said Harold Montgomery, CEO and Chairman of MoneyonMobile.

Founded in 2010 by Jolly Mathur, Rajat Sharma, Ranjeet Oak and Shashank Joshi, the Dallas and Mumbai-based company offers mobile payments services to its users.

S7 Group is a Russian private aviation and space holding company, comprising air transportation, maintenance and space operations companies.

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