Health-tech startup CureBay raises ₹50 Crores in Series A funding led by Elevar Equity 

Odisha-based health-tech startup CureBay had raised ₹50 Crores in a Series A funding round led by a US-based private equity firm, Elevar Equity. CureBay offers affordable healthcare services for rural areas. 

CureBay currently has 15 eClinics across remote districts and villages in Odisha, which has served over 10,000 patients. The startup plans to launch 100 eClinics in the next twelve months. The funds will be used to acquire skilled talent, expand to new locations and further strengthen the tech platform and care delivery model.  

The startup was founded in 2021 by Priyadarshi Mohapatra, Shobhan Mahapatra and Sanjay Swain. Founder and chief executive officer Priyadarshi Mohapatra said, “The capital will enable the next phase of expansion and help reinforce our position in the country.” 

CureBay uses a hybrid model to offer primary healthcare services. It allows users to schedule appointments, provides teleconsultations, delivers medicine, offers diagnostic services and provides admission of patients for tertiary care with its partner hospitals through a booking model. 

“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,” added Priyadarshi Mohapatra.

CureBay’s trained healthcare workers at its clinics help walk-in patients and connect them with city-based doctors for consultations. The eClinics also offer diagnostic services through partner labs and deliver medicines.

“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,” said Jyotsna Krishnan, managing partner, Elevar Equity.