Bengaluru-based healthcare startup IVF Access has raised $5 million as a part of its Series A funding from Vertex Ventures Southeast Asia and India.
The capital will be deployed to set up IVF clinics across India that will provide assisted reproductive treatments, the company 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,” said Naresh Rao, co-founder and CEO of IVF Access.
Founded by Naresh Rao, Nikhil Rajmohan, Harinath Chakravarthy and Pravin Sethuraman IVF Access is a healthcare company which is setting up clinics in India providing in vitro fertilisation (IVF) treatments.
According to a report by advisory firm EY, an estimated 10-15% 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, according to the startup. The company plans to change that by increasing the reach of such fertility treatments and procedures for couples all across the country.
“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,” said Ben Mathias, managing partner of Vertex Ventures Southeast Asia and India.
With this investment, Ben Mathias will also be joining the board of IVF Access.
Vertex Ventures Southeast Asia and India invests in high-growth start-ups seeking their first round of institutional venture capital funding in Southeast Asia and India, with a primary focus on Singapore, India, Indonesia, Thailand markets.
The article was first published on livemint.com