PolyPid Ltd. announced that it has received $2.40 million in series C round of equity funding from new and existing investors on December 31, 2012. Returning investor Xenia Venture Capital, Ltd invested $0.17 million in the current round and will hold 19.08% stake in the company post transaction. The round was raised at a post money valuation of $17.4 million.

On December 31, 2012, PolyPid Ltd. closed the transaction.