Fertility-tech startup Luma Fertility raises $4 M Seed funding from Peak XV’s Surge
Ameera Shah of Metropolis Healthcare and Vijay Taparia of B2V Ventures have joined Peak XV’s Surge in leading the $4 million seed funding round for fertility-tech startup Luma Fertility.
Over the next two years, the money raised will assist Luma in growing its presence in Mumbai and scaling to new cities.
Founded by Neha K. Motwani, Luma Fertility offers comprehensive fertility services such as IVF, pre-conception care, egg/embryo freezing, and fertility tests. In February 2021, Cult.fit (formerly Cure.fit) purchased Fitternity, a fitness marketplace that Motwani had previously founded.
In Bandra, Mumbai, Luma has opened a flagship tech-enabled clinic that is 6,000 square feet in size. Additionally, it incorporates holistic services like at-home semen testing, acupuncture, IV therapy, and nutrition.
With features for journey tracking, real-time reporting, and LumaAI, a round-the-clock helper for cycle advice and medication support, the platform provides an IVF companion app. Transparency-first policies, an open lab design, and a committed care team for each patient are all features of the clinic.
India’s fertility rate is declining below replacement (from 2.1 to 1.9), according to market research, and the number of IVF cycles is expected to increase from 320K in 2024 to 550K in 2028.
In order to serve Gen Z and urban millennials who are delaying parenthood, Luma is also considering expanding into the freezing of eggs and embryos.
