Kiran Shaw Backed Cancer Therapy Startup Immuneel Secures Rs 100 Crore in Series B Funding
New Delhi: Immuneel Therapeutics, a Bengaluru-based cell and gene therapy company backed by investors including Eight Roads Ventures and co-founded by Biocon founder Kiran Mazumdar-Shaw, has raised over Rs 100 crore (approximately USD 10.5 million) in a Series B funding round to strengthen its advanced cancer care platform and accelerate expansion plans.
The funding round attracted participation from new investors including Singularity AMC, Rainmatter, the investment arm of Zerodha, and several high-net-worth individuals. Existing investors Kiran Mazumdar-Shaw, Eight Roads Ventures and F-Prime Capital also participated in the round, reaffirming their support for the company’s long-term growth strategy.
Immuneel said the fresh capital will be deployed to expand manufacturing capabilities, support the commercialization of Qartemi, its CAR-T cell therapy for specific lymphoma indications, and broaden the company’s presence across the Asia-Pacific region and the Middle East.
The fundraising comes nearly four years after the company secured approximately $15 million in a Series A round co-led by Eight Roads Ventures, True North and F-Prime Capital. Since then, the company has focused on developing and commercializing cell and gene therapies aimed at improving treatment outcomes for cancer patients.
Founded in 2019, Immuneel is a clinical-stage biotechnology company specializing in Chimeric Antigen Receptor T-cell (CAR-T) therapies. The treatment involves collecting a patient's own T-cells, genetically engineering them to identify and attack cancer cells, and then reintroducing them into the patient's body. The company commercially launched Qartemi last year for the treatment of blood cancers, including non-Hodgkin lymphoma and leukemia.
Kiran Mazumdar-Shaw told VCCircle that the funding marks an important step in building a globally competitive CAR-T platform from India and reflects the company’s commitment to making advanced cancer therapies more accessible to patients.
Immuneel currently operates a dedicated cell therapy manufacturing facility in Bengaluru. Chief Executive Officer Amit Mookim said the company plans to significantly increase its annual CAR-T treatment capacity from the current range of 300-500 patients to at least 1,000 patients. He revealed that around 100 patients received CAR-T treatment through Immuneel during FY26.
Mookim also noted that each CAR-T treatment currently costs approximately Rs 35 lakh to Rs 40 lakh, highlighting the need for greater manufacturing scale to improve accessibility. He added that the company is exploring opportunities beyond oncology and is evaluating the use of CAR-T therapies in autoimmune diseases such as Systemic Lupus Erythematosus (SLE).
The company believes the latest investment will help accelerate manufacturing expansion, support commercial growth, strengthen its international footprint and advance its mission of delivering cutting-edge cell and gene therapies to a larger patient population.
VCCircle reports that the funding is expected to position Immuneel more strongly in the rapidly evolving cell and gene therapy market while supporting the wider adoption of advanced cancer treatments developed in India.
