VC firm Bessemer backs clutch of doctors to launch new IVF platform

Global venture capital firm Bessemer Venture Partners has backed a group of experienced doctors to launch a new healthcare platform focused on in vitro fertilization (IVF). Pluro Fertility and IVF increased ₹125 million Series A financing providing valuation to new company ₹1000 crore. This deal reflects the theme that many venture investors are increasingly looking to invest in single-specialty healthcare companies.

This year Dr. Jaydeep Tank, MD. Parikshit Tank and Dr. Founded by Bhaskar Shah, Pluro aims to partner with independent IVF specialists across India through its clinical partnership model. Through this model, the company will manage all non-clinical functions at partner clinics, including practice management, technology, compliance and marketing. The platform provides equal participation to every partner doctor.

Dr. “We plan to set up 25 fertility centers across India by March 2026, each in partnership with a fertility specialist with at least a decade of clinical expertise,” said Jaydeep Tank.

Pluro plans to create a pan-India presence with over 100 clinics within three years. The company said the platform will use the new capital to expand its network presence, invest in technology and deepen clinical capabilities in advanced reproductive science.

When asked if the in vitro fertilization market is currently crowded, Dr. Tank said there is a great need for an actor who understands patients and serves them differently.

In an environment of increasing competition from many established players such as Indira IVF and Nova IVF Fertility, both of which have multiple centers across the country, technology is likely to be a key driving factor for the new venture. Other chains with a significant presence in India are Apollo Fertility, Fortis La Femme and ART Fertility Clinics. Between these chains and unorganized ones, there are around 6,000 in vitro fertilization clinics in India till date.

“We’ve fundamentally developed a very different model for physicians to come together with us, form a partner, and partake in the benefits of both the infrastructure, the technology, and the background work. I think this is a great opportunity for physicians to bring their entrepreneurship to scale,” Dr. Tank said.

change direction

For Bessemer, which has historically supported single-specialty healthcare companies such as Nephroplus, there is tremendous value to be created in the single-specialty segment.

Bessemer supported Nephroplus in 2013.

Nithin Kaimal, partner and chief operating officer, Bessemer Venture Partners India, believes that the IVF segment will also experience sustained growth going forward.

“This is somewhat of an underserved market. While metros and major cities have significant penetration, tier II, III and IV markets still have a long way to go in terms of high-quality fertility care,” Kaimal said. Mint, He adds that out of 6,000 IVF clinics in India, only 10% are part of organized chains. “There’s a huge opportunity to create organized play here.”

Interestingly, a well-known cardiologist in central Mumbai, Dr. Bhaskar Shah is the father of Pharmeasy co-founder Siddharth Shah. According to the statement made by Pluro, angel investors such as Vikram Chhatwal (MediAssist), Dharmil Sheth and Hardik Dedhia (PharmEasy/All Home), Salil Musale (Astarc Ventures), Shalibhadra Shah and Niket Shah (Motilal Oswal) and Karan Kapur (K Hospitality) also participated in this round.

India IVF market size reached $864.6 million by 2024, according to a research report by IMARC Group, a consulting firm. Looking ahead, the market is expected to reach $3.4 billion (in revenue) by 2033 and exhibit a growth rate of 15.4% during 2025-2033. “Increasing awareness and acceptance of infertility as a medical condition, delayed parenthood, rapid technological advancements in healthcare infrastructures and expanding medical tourism are some of the key factors driving the growth of the market,” the report said.