FerTech startup Luma Fertility Bags $4 Mn from Peak XV’s Surge Fund

The clinic offers services such as IVF, egg and embryo freezing, fertility assessments, and preconception consultations. It also features an AI-powered tool, LumaAI, to guide patients.

Mumbai-based fertility-tech startup Luma Fertility has secured $4 Mn in funding, led by Peak XV’s Surge platform, which backs seed-stage startups.

The funding round also saw participation from Ameera Shah, Executive Chairperson of Metropolis Healthcare, and Vijay Taparia, Chairman of B2V Ventures.

Luma Fertility plans to use the capital to expand its network of full-service fertility clinics within Mumbai and to other cities over the next two years.

“We want to open another two clinics in Mumbai and then expand to Bengaluru, Hyderabad, Pune, and Delhi,” said Neha K Motwani, founder of Luma Fertility.

Motwani had previously founded fitness platform Fitternity, which was acquired by Cure.fit in 2021.

Launched just a year ago, Luma Fertility currently operates its flagship 6,000 sq ft clinic in Mumbai’s Bandra West. The clinic offers services such as IVF, egg and embryo freezing, fertility assessments, and preconception consultations. It also features an AI-powered tool, LumaAI, to guide patients.

“We have two full-time doctors who have great success rates in fertility treatment,” Motwani said.

“Embryology is usually treated as a back-end process, but we see it as critical. That’s why we’ve designed a transparent lab, led by Chirag Shah, one of India’s top five embryologists, who has performed over 10,000 IVF cycles,” she added.

Currently, the clinic has a 20-member team, including two full-time doctors, and has completed more than 500 consultations since its launch.

“Fertility care in India is at an inflection point. Demand is growing rapidly, but the system is deeply fragmented and outdated,” said Shah of Metropolis Healthcare.

Taparia of B2V Ventures added, “Having backed Neha in her earlier venture, I’ve seen firsthand her ability to build with conviction and scale with integrity. Moreover, there is a clear need for consumer-first healthcare in India, especially in single-specialty verticals like fertility.”

India’s fertility services market, valued at $1.5 billion in 2024, is expected to grow at a CAGR of 12.7% to reach $4.41 billion by 2033, according to IMARC Group.

In recent years, the fertility care sector has seen rapid growth with players such as Apollo Fertility, Birla Fertility and IVF, and Nova Fertility Centre expanding their presence.

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