Immuneel Therapeutics secures 100 crores in series B funding

By StartupStory | June 8, 2026

Cancer-focused biotech startup Immuneel Therapeutics has raised over Rs 100 crore ($10.5 million) in a Series B funding round led by a mix of new and existing investors.

The round saw participation from Singularity AMC, Rainmatter by Zerodha, and several high-net-worth individuals. Existing backers including Kiran Mazumdar-Shaw, Eight Roads Ventures, and F-Prime Capital also joined the financing round.

According to the company, the fresh proceeds will be used to expand its GMP manufacturing capacity, accelerate the commercialization of Qartemi, strengthen its research and development pipeline, and support expansion across Asia Pacific and the Middle East.

The funding comes nearly two years after the Bengaluru-based startup raised Rs 100 crore ($12 million) in an extension of its Series A round from Taiba Middle East FZ LLC. Following that investment, the company was valued at around Rs 587 crore ($71 million) post-money.

Founded in 2018 by Kiran Mazumdar-Shaw, Siddhartha Mukherjee, and Kush Parwar, Immuneel develops cell and gene therapies for cancer treatment. The company has raised more than $40 million prior to the latest round, including a $15 million Series A financing co-led by Eight Roads Ventures, True North, and F-Prime Capital in 2022.

Immuneel recently commercialized Qartemi, which it describes as India’s first approved CAR-T therapy for Non-Hodgkin Lymphoma and leukemia. The company is also advancing clinical co-development partnerships in Australia and Southeast Asia to expand access to advanced cancer therapies in international markets.