Odisha-based health tech start-up CureBay has raised Rs 50 crore in a Series A funding round from Washington-based -Elevar Equity.
CureBay aims to provide affordable healthcare services in rural India and claims to have treated over 10,000 patients since its inception in 2021. It currently runs 15 e-clinics and wants to launch another 85 in the next twelve months.
With this latest infusion of capital, the company wants to add more members on board and expand its business to new areas across the country.
Founded by Priyadarshi Mohapatra, Shobhan Mahapatra and Sanjay Swain, CureBay utilises a hybrid model to provide medical services like -teleconsultations, medicine delivery medicines and addressing a patient's diagnostic needs.
Additionally, it has partnered with hospitals to facilitate the admission of tertiary care patients through transparent booking methods and concierge services.
Talking about his organisation, founder and chief executive officer (CEO) Priyadarshi Mohapatra said, "The healthcare ecosystem needs an innovative model that enables it to collaborate on a real-time basis to deliver health outcomes to patients across the country. With CureBay, we intend to empower the healthcare system and make it accessible to patients who lack information and proper medical resources."
Jyotsna Krishnan, managing partner of Elevar Equity added, "We at Elevar Equity have long held the view that rural healthcare platforms need to be custom-designed for this market. CureBay's blended distribution model with assisted tech is well positioned to address a massive gap; millions of customers are eager to pay for quality healthcare in medically underserved areas."