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Healthtech startup CureBay raises Rs 50 Cr in Series A round led by Elevar Equity

Originally appeared in YourStory on November 9, 2022

CureBay, the Odisha-based healthtech startup, has raised Rs 50 crore in a Series A round of funding led by Elevar Equity.

CureBay, which enables affordable healthcare services and facilities for rural areas, will use this capital for hiring, expanding to new locations, and strengthening its platform. It also plans to launch 100 e-clinics in the next 12 months, up from the present 15 such clinics.

Founded in 2021 by Priyadarshi Mohapatra, Shobhan Mahapatra, and Sanjay Swain, CureBay uses a hybrid model to schedule appointments, provide teleconsultations, deliver medicine, address the diagnostic needs of patients, and facilitate admission for tertiary care at partner hospitals via a transparent booking model and concierge services.

CureBay Founder and 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.”

According to CureBay, its trained healthcare workers at the e-clinics assist walk-in patients and connect them with city-based doctors for video consultations. The patients also get access to a network of partner labs as well as hospitals for specialised treatment. It has treated over 10,000 patients till now.

On the investment, Jyotsna Krishnan, Managing Partner, Elevar Equity, said, “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.”