CureBay, an Odisha-based startup in the health tech sector, raises INR 50 Cr ($6.1 Mn) in a Series A fundraising round that was headed by Elevar Equity.
In the upcoming 12 months, the startup will establish 85 additional eClinics using the funding. Additionally, the money will be used to increase hiring and expand into new locations.
The startup presently runs 15 eClinics in Odisha and asserts that more than 10,000 patients have benefited from its pilot programme.
For the majority of rural India, finding cheap access to primary healthcare is a major problem.
CureBay, which was established in 2021 by Priyadarshi Mohapatra, Shobhan Mahapatra, and Sanjay Swain, facilitates the last-mile delivery of primary healthcare services by utilising technology and a network of eClinics that provide high-quality healthcare to people in rural and small-town locations.
By using a transparent booking system and concierge services, it uses a hybrid approach to plan appointments, offer teleconsultations, supply drugs, address patients’ diagnostic needs, and enable admission for tertiary care at partner institutions.
“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. Our hybrid model helps in overcoming the challenges of skewed patient-provider ratios and the concentration of providers in a few urban pockets. The capital will enable the next phase of expansion and help reinforce our position in the country,” Priyadarshi Mohapatra, Founder & CEO, CureBay told The Economic Times.
“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,” Elevar Equity’s managing partner, Jyotsna Krishnan, commented on the announcement.
Since its beginning, CureBay has established a solid business model that uses a full tech stack to connect patients in underdeveloped markets with healthcare providers. At eClinics, the business’s skilled healthcare professionals help walk-in patients arrange video consultations with city-based doctors.
With the use of its technology, doctors can access comprehensive and unique patient records, enabling them to provide high-quality diagnoses that are on par with in-person consultations. Patients can also have their prescription medications delivered directly to them through eClinics, as well as access to a network of accredited partner hospitals and labs for specialised care.
Curebay is dedicated to transforming access to primary healthcare in rural India using freshly raised funds.