Bengaluru-based cell and gene therapy company Immuneel Therapeutics has raised over ₹100 crore in a Series B funding round to scale its cancer therapy platform and expand beyond India. The round was led by Singularity AMC and Rainmatter by Zerodha, with participation from existing backers including Kiran Mazumdar-Shaw, Eight Roads Ventures, F-Prime Capital, and several high-net-worth individuals. The fresh capital comes as the company looks to deepen its manufacturing base, widen the commercial rollout of its CAR-T therapy Qartemi, and build a larger international footprint.
Funding to Support Manufacturing and Expansion
Immuneel plans to use the proceeds to expand its Good Manufacturing Practice manufacturing capacity, which is central to producing advanced cell therapies at commercial scale. The company will also invest in its next-generation cell and gene therapy pipeline, with a focus on blood cancers and broader applications in oncology. A major part of the funding will support expansion across Asia-Pacific and the Middle East, where access to complex cancer treatments remains limited.
The fundraise marks an important step for Immuneel as it moves from clinical development and early commercialisation into a more ambitious growth phase. Its approved therapy, Qartemi, is positioned as India’s first homegrown CAR-T therapy for Non-Hodgkin Lymphoma. The company is also preparing to extend its work into additional blood cancer indications, including leukemia.
Building an Indian CAR-T Platform
Founded in 2018 by Kiran Mazumdar-Shaw, Kush M Parmar, and Siddhartha Mukherjee, Immuneel was created to make advanced cancer therapies more accessible in India and other underserved markets. CAR-T therapy involves modifying a patient’s own immune cells so they can identify and attack cancer cells more effectively. While the treatment has transformed outcomes for some blood cancer patients globally, its high cost has kept it out of reach for many patients in emerging economies.
Immuneel’s strategy is built around localisation, manufacturing know-how, and cost reduction without moving away from global quality standards. Western CAR-T treatments can cost several hundred thousand dollars per patient, creating a large affordability gap. Immuneel aims to narrow that gap by building production and delivery capabilities in India, where costs can be significantly lower.
Qartemi at the Centre of Commercial Rollout
Qartemi is expected to remain the company’s near-term commercial focus as Immuneel expands access for patients with Non-Hodgkin Lymphoma. The therapy belongs to a class of treatments currently used mainly for blood cancers such as lymphoma, leukemia, and multiple myeloma. Immuneel has already begun treating patients in India and is now seeking to scale its reach through stronger manufacturing capacity and international partnerships.
CEO Amit Mookim has indicated that the company is investing in both current and future programmes, with localisation playing a major role in its operating model. Immuneel is also advancing co-development partnerships in markets such as Australia and Southeast Asia. These collaborations could help the company validate its platform across multiple geographies while building credibility in global oncology markets.
Investor Confidence in Affordable Oncology
For investors, Immuneel represents a bet on India’s ability to participate in the next wave of biotech innovation, not just generic drug manufacturing. Singularity AMC has highlighted the company’s pipeline and its potential to reduce the cost and complexity of advanced cancer treatment. Rainmatter’s participation also reflects growing investor interest in healthcare models that combine scientific innovation with long-term social impact.
The funding arrives at a time when India’s biotech ecosystem is gaining momentum, supported by improving regulation, stronger investor interest, and greater patient demand for advanced therapies. Companies working in cell and gene therapy are attempting to solve problems that global pharmaceutical firms have not fully addressed for emerging markets. Immuneel’s progress could therefore carry significance beyond a single company, especially if it proves that complex therapies can be developed, manufactured, and delivered affordably from India.
Immuneel’s Series B round gives the company fresh capital to strengthen its manufacturing backbone, accelerate Qartemi’s rollout, and take its CAR-T platform to new markets. The announcement also underscores the growing role of Indian biotech startups in developing advanced therapies for diseases that have historically required expensive imported treatments. If Immuneel can scale while maintaining quality and affordability, it could become a key player in making cell and gene therapy accessible to a much wider patient population.