Hyderabad, Oct 10 (IANS): Oasis Centre for Reproductive Medicine, one of the leading chains of in-vitro fertilisation (IVF) centres, on Monday announced today that it has raised $6.2 million (Rs.40 crore) from India Life Sciences Fund II.

The investment will help the company in establishing more centres in the country and introducing advanced assisted reproductive technology (ART) for infertility treatments, the company said in a statement.

This will also allow the six-year-old company to focus on creating value for all the stakeholders and setting a benchmark for the industry.

Founded in Hyderabad in 2009 by renowned infertility specialist Durga G Rao and seasoned entrepreneur Kiran Gadela, Oasis is recognised as the trusted provider of advanced fertility treatments, providing a unique blend of high-level medical expertise and personalised management to couples seeking fertility treatment, the statement said.

The IVF market is predicted to grow at a CAGR of 10.1 percent in the next five years to reach Rs 5,027.57 crore ($756 million) by 2021, according to a research report by MarketsandMarkets.

"Oasis is poised for a good growth with Dr. Durga Rao bringing in the medical expertise and Kiran Gadela's entrepreneurial skills. I am pleased to join the Oasis' board as a director," said Anula K.Jayasuriya, Managing Director, InvAscent, the investment advisor to EILSF (Evolvence India Life Sciences Fund) and India Life Sciences Fund II.

"Since inception, Oasis' key focus has been to establish a centre of excellence with transparent, ethical and evidence-based practice to treat infertility," said Gadela, co-founder and Managing Director at Oasis.