$6.2 million from India Life Science Fund for Oasis Center
Oasis Centre, one of the leading chain of in-vitro fertilisation(IVF) centres announced that India Life Sciences Fund II had invested $6.2 million in the company, today. In the Indian Healthcare sector, India Life Sciences Fund II, focuses on growth capital in the Indian healthcare sector.
The Hyderabad-based company, the fund has acquired an important minority stake with the investment of $6.2 million. Apart from the navigating the acquisition opportunities, the funding outcome of the round will be allocated to extend its chain of IVF centers.
The firm has not disclosed the equity stake picked up by India Life Sciences. The latest funding round which was raised by the firm remained unrevealed as of its valuation.
The funding will be utilized to procure the most advanced reproductive technologies and tools which offer a rare and one of a kind infertility treatments. This was offered globally at present in very few centers as per Kiran Gadela, MD of the company.
Durga G Rao and Kiran Gadela, founded the Oasis Center. Healthcare services startup was their unique feature. The two founders commented about the funding round, Gadela said, "The firm has been growing on initial equity investments by founders and internal accruals all these years. This is the first round of institutional investment in the form of growth capital."
At present, the five IVF centers of the company spread throughout Andhra Pradesh and Telangana. It looks forward to implement the proceeds to set up 20 more centers at least over South India in the next five years.
IUI, IVF, IVM, PGS and Surrogacy are fertility based treatments, which are the fertility needs, which the company look forward since it was confident that it has an expert team is abreast of addressing this.
In the areas of pharma, medical devices and healthcare services are the several investments that had India Life Science Fund II had made.