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ImmunitoAI bags USD 1 Mn in seed funding round led by Pi Ventures

ImmunitoAI bags USD 1 Mn in seed funding round led by Pi Ventures
ImmunitoAI bags USD 1 Mn in seed funding round led by Pi Ventures

Indian biotech startup ImmunitoAI recently announced that it has raised USD 1 million in a seed funding round led by an early-stage investment company, Pi Ventures. Existing investor Entrepreneur First also participated in the event.

According to sources, the freshly raised capital will be used for building strategic industry partnerships as well as to strengthen the existing product portfolio.

Established in November 2020 by Trisha Chatterjee, and Aridni Shah, immunitoAI is focused on developing an AI-based antibody screening and discovery platform. The startup seeks to promote the discovery of antibodies and make targeted therapy a mainstream solution in the forthcoming years.

ImmunitoAI CEO and Co-Founder, Shah was quoted saying that integration of biology and AI has become more practical in recent times. AI has made the complex structure of biology more approachable, and the company has been working towards bridging the gaps and achieving previously impossible feats.

She further added that immunitoAI seeks to make antibody therapy a norm using its new technology and will be using the funds raised in the seed round to develop its AI products and confirm predictions via biological experiments.

Roopan Aulakh, Managing Director at Pi Ventures, said that the company mainly invests in startups that revolutionize the industry and bring disruptive technologies to the table. This strategy is well reflected in ImmunitoAI’s financing, which is Pi Ventures’ first investment from its newly launched Fund II.

Commenting on the investment, Aulakh stated that immunitoAI’s platform will allow a faster and more affordable antibody screening procedure, which will ease the rollout of targeted therapy for multiple diseases.

It is also worth noting that immunitoAI’s current focus remains on antibody screening and improvement. However, in the mid and long run, the startup plans to develop its antibody candidates.

Source Credits –

https://yourstory.com/2021/09/biotech-startup-immunitoai-raises-seed-round-piventures/amp

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Vinisha Joshi

Vinisha Joshi

Despite graduating with an engineering degree in electronics and communication, Vinisha Joshi chose the road less travelled, and decided to pursue her career in content writing . Currently, she pens down articles for cuereport.com and a few other distinguished news platforms, pertaining to business and finance.