With the Series A funding, IVF Access will set up a chain of IVF clinics across India. The founders are the former management team of Nova IVI Fertility
Bengaluru, June 3, 2020: IVF Access, a healthcare company focused on providing in vitro fertilisation (IVF) treatments in India, has raised USD 5 million in Series A funding. 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.
The investment in IVF Access 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.
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. We are excited to partner with Vertex Ventures SEA & India in this journey and look forward to benefitting from their experience in building truly transformative businesses.”
“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 SEA & India.
The Indian IVF market opportunity is significant and driven by changes in demographics and lifestyle. 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. IVF Access aims to change that by increasing the reach of such fertility treatments and procedures for couples all across the country.
About IVF Access
IVF Access is a healthcare company which is setting up clinics in India providing in vitro fertilisation (IVF) treatments. IVF Access aims to increase the reach of assisted reproductive treatment in India through access to technology and medical expertise. IVF Access was founded by Naresh Rao, Nikhil Rajmohan, Harinath Chakravarthy and Pravin Sethuraman, the former management team at Nova IVI Fertility.
About Vertex Ventures SEA & India
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 and other emerging hubs of innovation across the region. Vertex Ventures Southeast Asia and India is part of the Vertex global network of venture capital funds. A trusted partner to some of the world’s most innovative entrepreneurs, Vertex supports its portfolio companies with unmatched operating experience and deep access to the capital, talent, partners and customers they need to build truly global businesses. For more information, please visit: https://www.vertexventures.sg/