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Luma Fertility raises $4 Mn led by Peak XV’s Surge

EntrackrEntrackr · 1m ago
Luma Fertility raises $4 Mn led by Peak XV’s Surge
Medial

Luma Fertility raises $4 Mn led by Peak XV’s Surge Fertility-tech startup Luma Fertility has raised $4 million in seed funding led by Peak XV’s Surge, with participation from Ameera Shah (Metropolis Healthcare) and Vijay Taparia (B2V Ventures). The proceeds will help Luma expand its footprint across Mumbai and scale to new cities over the next two years. Founded by Neha K. Motwani, Luma Fertility provides end-to-end fertility services including IVF, egg/embryo freezing, fertility assessments, and pre-conception care. Motwani had previously built fitness marketplace Fitternity which was acquired by Cult.fit (formerly Cure.fit) in February 2021. Luma has launched a 6,000 sq ft flagship tech-enabled clinic in Bandra, Mumbai. It also integrates holistic services such as nutrition, IV therapy, acupuncture, and at-home semen testing. The platform offers an IVF companion app, with tools for journey tracking, real-time reports, and LumaAI, a 24/7 assistant for cycle guidance and medication support. The clinic features an open lab design, transparency-first policies, and a dedicated care team for every patient. As per market research, India’s fertility rate is dipping below replacement (from 2.1 to 1.9), and IVF cycles are projected to grow from 320K in 2024 to 550K by 2028. Luma is also eyeing expansion into egg and embryo freezing services, catering to urban millennials and Gen Z consumers delaying parenthood.

Eyestem Research bags $10 Mn in Series B round

EntrackrEntrackr · 17d ago
Eyestem Research bags $10 Mn in Series B round
Medial

Eyestem Research bags $10 Mn in Series B round Clinical-stage biotechnology company Eyestem Research has raised $10 million in a Series B funding round co-led by Raju Barwale and Alkem Laboratories managing director Sandeep Singh. The Bengaluru-based company had previously raised $9.95 million from Alkem Lab., Biological E, and C-CAMP. The proceeds will be utilized for the completion of the ongoing Phase 2 clinical trial in India and support preparations for filing an Investigational New Drug (IND) application with the US Food and Drug Administration (FDA), Eyestem said in a press release. Co-founded in 2015 by Jogin Desai, Rajani Battu, and Rajarshi Pal, Eyestem Research focuses on developing cell replacement therapies for incurable eye diseases. The company is known for its work on dry age-related macular degeneration (AMD). It is developing a therapy called Eyecyte-RPE, which uses retinal pigment epithelium (RPE) cells derived from human-induced pluripotent stem cells to replace damaged cells in the retina. According to Eyestem, Eyecyte-RPE is being developed for patients with geographic atrophy (GA) secondary to dry age-related macular degeneration (dry AMD). The company has submitted its Phase 1 clinical study report to the Central Drugs Standard Control Organisation (CDSCO) and is awaiting approval to initiate Phase 2. As per the company, Eyecyte-RPE can help replace the damaged or lost retinal pigment epithelial (RPE) cells and potentially enable tissue regeneration in the diseased retina. This unique formulation is allogeneic, scalable, and can be stored as a frozen vial for long periods of time. Dry AMD is the leading cause of blindness for people over 50. Geographic atrophy (GA) is an advanced form of dry age-related macular degeneration (AMD) that leads to progressive and irreversible loss of central vision, characterized by the death of cells in the macula, the central part of the retina. Approximately 196 million people suffer from dry AMD globally, five million of whom suffer from GA. The other notable players in this space are Lineage Cell Therapeutics and Voyager Therapeutics.

Vidyut raises $2.5 Mn to expand battery-as-a-service financing biz

EntrackrEntrackr · 6m ago
Vidyut raises $2.5 Mn to expand battery-as-a-service financing biz
Medial

Snippets Vidyut raises $2.5 Mn to expand battery-as-a-service financing biz Bengaluru-based full-stack electric vehicle (EV) ecosystem platform Vidyut has raised $2.5 million in funding from global fintech investor Flourish Ventures. To date, Vidyut has raised over $16.5 million from 3one4 Capital, Credit Saison, Flourish Ventures, Zephyr Peacock, Lighthouse Canton, and other prominent investors. The firm concluded its $10 million Series A round in February last year. The funding will fuel the expansion of Vidyut's battery-as-a-service (BaaS) offerings in both passenger and commercial EV segments. This investment reinforces Vidyut's mission to accelerate India's clean energy transition by making EV ownership accessible and affordable for SMBs, the company said in a press release. Founded in 2021 by ex-Swiggy and Bounce executives Xitij Kothi and Gaurav Srivastava, Vidyut revolutionized commercial EV financing. By unbundling batteries from EVs and offering them on a pay-per-km subscription basis, Vidyut reduced upfront three-wheeler (3W) EV costs by 35-40%, making them significantly cheaper than ICE vehicles from day one. In 2023, Vidyut expanded its offerings to include EV resale and lifecycle management solutions, a move that has seen rapid customer adoption and market traction. In September 2024, the company entered the passenger EV market through a partnership with JSW MG Motor India, marking India's first BaaS model for four-wheelers that cuts upfront vehicle costs by 30%. With key industry partners such as TATA Motors, JSW, MG Motor India, Mahindra Last Mile Mobility, Piaggio, and Euler Motors, along with a strong distribution network spanning 30 cities, Vidyut has enabled micro-entrepreneurs and fleet operators to embrace sustainable choices while boosting their earnings by 10-15% through EV adoption. "With proven unit economics, strong 15% month-on-month growth, and long-term OEM partnerships, this investment will help us scale our innovative financing and lifecycle solutions across new vehicle segments," said Xitij Kothi. The Bengaluru-based company also launched an EV resale platform for the three-wheeler commercial vehicle segment, which manages the entire process—from inspection and valuation to sale and RTO documentation. According to the company, this new platform has streamlined the resale process for commercial EV owners and has helped customers realize up to 10-15% higher returns than ICE counterparts in secondary markets. In the electric vehicle financing space, Vidyut competes with Revfin, Finayo, Mufin Green Finance, OTO, Evfin, and Hero FinCorp, among others.

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