Healthcare startup IVF Access has raised $5 million as a part of its Series A funding from Vertex Ventures Southeast Asia and India.
The startup plans to use the funds to set up IVF clinics across India.
Talking about IVF and this funding round, Naresh Rao, co-founder and CEO, IVF Access, said,
“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. We are excited to partner with Vertex Ventures SEA & India in this journey and look forward to benefiting from their experience in building truly transformative businesses.”
Founded by Nikhil Rajmohan, Naresh Rao, Harinath Chakravarthy and Pravin Sethuraman, IVF Access is a Bengaluru-based healthcare startup that is working with an aim to become India’s leading fertility clinic chain.
The startup also aims to offer nationwide access to IVF treatments with an innovative technology platform and state-of-the-art labs.
As per a report by advisory firm EY, around 10-15% of Indian married couples, or 27.5 million couples, who are actively seeking children, suffer from infertility.
The key factors for this being increasing marital age, postponement of childbearing, and lifestyle risk factors.
According to the company, there is a huge market opportunity as the penetration of IVF treatment in India is very low.
The company plans to change this by increasing the reach of such fertility treatments and procedures for couples in the country.