IVF Access, a Bengaluru-based healthcare startup focused on providing In Vitro Fertilisation (IVF) treatments in India, has raised $5 million in Series A funding.
The investment was made by Vertex Ventures Southeast Asia and India (Vertex Ventures SEA & India) and will see its Managing Partner, Ben Mathias, joining the board of IVF Access. The capital will be deployed to set up IVF clinics across India that provide assisted reproductive treatments, with its operations enabled by a proprietary IT platform, the company said in a statement.
Naresh Rao, Co-founder and CEO of IVF Access, shared,
“When it comes to IVF, access is everything. IVF Access will increase the reach of such fertility treatments through a chain of clinics in India, where couples trying to conceive will have access to both technology and medical expertise.”
IVF Access Founders (L-R): Pravin Kumar Sethuraman, Harinath Chakravarthy, Naresh Rao and Nikhil Rajmohan
According to a report by advisory firm EY, an estimated 10 to 15 percent of married couples in India, or 27.5 million couples, who are actively seeking children, suffer from infertility. The increasing marital age, postponement of childbearing, demographic skew, and lifestyle risk factors are key factors driving this trend.
Despite the market opportunity, the penetration of IVF treatment is currently very low in India. IVF Access aims to change that by increasing the reach of such fertility treatments and procedures for couples all across the country.
IVF Access was founded in September 2019 by Naresh Rao, Nikhil Rajmohan, Harinath Chakravarthy and Pravin Sethuraman, the former management team at Nova IVI Fertility that grew the business to 20 IVF centres across 15 cities.
“Demand for assisted reproductive treatments far exceeds the supply across the country. IVF Access’ management team is the best in the industry – we are confident they will empower doctors with the training and infrastructure they need in order to meet this growing need,” added Ben Mathias, Managing Partner of Vertex Ventures SEA & India.
Vertex Ventures Southeast Asia and India invests in high-growth startups seeking their first round of institutional venture capital funding in Southeast Asia and India, with a primary focus on Singapore, India, Indonesia, Thailand, and other emerging hubs of innovation across the region.
(Edited by Saheli Sen Gupta)
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Link : https://yourstory.com/2020/06/funding-fertility-platform-ivf-access-vertex-ventures-india
Author :- Sujata Sangwan ( )
June 03, 2020 at 02:42PM
YourStory