Immuneel Therapeutics, a biotech startup focused on cancer, has raised $12 million, or Rs 100 crore, in an expansion of its Series A funding round from Taiba Middle East FZ LLC. Since its founding in 2018, the Bengaluru-based startup has raised capital three times.
According to Immuneel Therapeutic’s regulatory filing, which can be viewed through the Registrar of Companies, the board approved a special resolution to issue 8,164 Series A1 CCPS and 10 equity shares at a price of Rs. 1,22,330 apiece in order to raise Rs. 100 crore, or $12 million.
The documents also stated that the company will use these investments for growth and expansion in accordance with board decisions.