Biotech startup immunitoAI raises USD 1 mn in seed funding

Biotech startup immunitoAI on Wednesday said it has raised USD 1 million (over Rs 7 crore) in a seed funding round led by early-stage venture capital fund pi Ventures.

Existing investor Entrepreneur First also participated in the funding round. The funds will be deployed for product development and industry partnerships, immunitoAI said in a statement.

“Our vision is to make antibody therapy a norm with the help of our technology. We plan on using this seed funding to develop our AI products and validate the predictions through biological experiments,” immunitoAI, CEO and Co-founder Aridni Shah said.

Also Read: JioPhone Next to launch on September 10: All you need to Know

pi Ventures MD Roopan Aulakh said, “Our focus at pi has been to invest in startups that are revolutionising industries using disruptive technology. This thesis is well reflected in immunitoAI, our first investment from our recently launched Fund II”.