Funding Overview
CureBay, a health-tech startup based in India, has successfully raised $21 million in a Series B funding round. This round was led by Bertelsmann India Investments, with participation from Elevar Equity and British International Investment.
Company Background
- Founded in 2021, CureBay operates over 150 rural e-clinics in the states of Odisha and Chhattisgarh.
- The startup employs over 1,000 community health workers, known as Swasthya Mitras, who assist with teleconsultations, diagnostics, and medicine delivery.
- Currently, around 90,000 individuals are subscribed to CureBay’s preventive health service package.
Funding Utilization
The newly acquired funds will be directed towards:
- Implementing AI-powered algorithms for workflow automation.
- Enhancing predictive capabilities within its e-clinic network.
- Expanding operations to underserved regions, including Jharkhand, Bihar, Uttar Pradesh, and Madhya Pradesh.
According to Priyadarshi Mohapatra, founder and CEO, “The capital will help us scale technology, talent, and reach to provide dignified, affordable healthcare to the last mile.”
Market Context
In recent years, Indian health tech startups focusing on AI have attracted significant investments:
- Qure.ai raised $65 million in Series D funding.
- Cureskin secured $20 million in Series B funding.
- Dozee aims to expand internationally with an $8 million investment.
With a strong focus on integrating advanced technologies, CureBay is positioning itself as a key player in improving healthcare access in rural India.