Companies

Healthcare firm IVF Access raises $5 million from Vertex Ventures

Our Bureau Bengaluru | Updated on June 03, 2020 Published on June 03, 2020

IVF Access, a healthcare company focussed 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, whose Managing Partner Ben Mathias will join the board of IVF Access. The capital will be deployed to set up IVF clinics across India that provide assisted reproductive treatments, with the operations enabled by a proprietary IT platform, said a company release.

IVF Access was founded 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.

“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 Rao, who serves IVF Access as CEO.

The Indian IVF market opportunity is significant and driven by changes in demographics and lifestyle, said a company release. According to a report by advisory firm EY, an estimated 10-15 per cent 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.

“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 Mathias.

Published on June 03, 2020