Funding Alert
Bengaluru based biotech startup Zumutor Biologics raises $6.2 million
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ByTejika Bajaj | December 10, 2021
The Bengaluru based biotech startup Zumutor Biologics recently announced that it has raised $6.2 million in a funding round led by Siana Capital. The round also saw keen participation from existing investors Accel and Bharat Innovation.
This announcement comes at a time when the biotech startup was all geared up to send its antibody molecule for prostate cancer for its phase 1 trial. With the latest round of funding, the new age company has raised a total of $27 million till date.
Talking about the recent funding round and the subsequent plans of the startup, the CEO of Zumutor Biologics, Kavitha Iyer Rodrigues said, “With this funding, we’re now going to go into investigative new drug finding in the beginning of next year and phase 1 clinical trial in the middle of next year. The company is in a good position now with data from non-human trials looking promising. We will continue to develop other assets in our pipeline, of which there are four, and we will take the asset from phase 1 into phase 2 and look for licensing partners, and at that point might also consider listing.”
Zumutor Biologics is a biotech startup in the immuno-oncology space which creates antibody molecules through its proprietary antibody discovery platform, INABLR. Zumutor’s ZM008 is a first-in-class antibody molecule that it says activates the natural killer (NK) cells in a patient’s body to fight off the cancer cells. With the completion of phase 1 trials, the startup would be able to avail a lot of options in terms of strategic licensing of its lead asset as well as attract collaborations.
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Clean-label food brand Anveshan has raised Rs 150 crore (nearly $16 million) in a Series B funding round led by Vertex Ventures Southeast Asia & India. The round also saw participation from International Finance Corporation (IFC), Swiggy co-founder Sri Harsha Majety, and existing investors including Wipro Consumer Care Ventures, Titan Capital Winners Fund, Force Ventures, and boAt co-founders Aman Gupta and Sameer Mehta. Entrackr had exclusively reported the development last week. According to Entrackr’s estimates, the funding valued the company at over $90 million. The fresh capital will be used to strengthen manufacturing capabilities, accelerate product development, expand offline distribution, and deepen its digital presence. The company also plans to invest in sourcing infrastructure, procurement systems, quality assurance, and testing capabilities while expanding partnerships with micro entrepreneurs and traditional producers. Founded in 2020 by Kuldeep Parewa, Akhil Kansal, and Aayushi Khandelwal, Anveshan sells minimally processed food products including A2 bilona ghee, cold-pressed oils, raw honey, atta, and other traditional nutrition-focused products. The startup operates through a network of rural producers and micro entrepreneurs across the country. Anveshan claims to be operating at an annual revenue run rate of Rs 280-300 crore and is targeting Rs 1,000 crore in revenue over the next 24-30 months. The company plans to expand its atta portfolio, strengthen its owned digital channels, scale offline distribution, and continue investing in product innovation. For the fiscal year ended March 2025, Anveshan reported a 64.6% increase in operating revenue to Rs 77.08 crore from Rs 46.84 crore in FY24. Its losses widened to Rs 11.88 crore in FY25 from Rs 5.74 crore in the previous fiscal year....
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