In its Series B funding round, CureBay, a hybrid healthcare platform, raised $21 million under the leadership of Bertelsmann India Investments. British International Investment and Elevar Equity, an existing investor, participated in the round.
According to a news release from CureBay, the most recent investment will be used to promote the company's growth throughout India and fortify its exclusive in-house technological stack.
The business is enhancing predictive care and operational efficiency by leveraging its AI and data capabilities. It wants to reach other states, including as Madhya Pradesh, Uttar Pradesh, Bihar, and Jharkhand. Additionally, it will make investments in process automation solutions for rural areas, proprietary algorithms, and platform updates.
Key Highlights
- CureBay Secures $21M in Series B Funding to Expand Rural Healthcare Across India
- Bertelsmann Leads Investment as CureBay Strengthens AI-Driven Tech and E-Clinic Network
- CureBay Targets States Like UP, Bihar, and MP with Scalable, Affordable Healthcare Solutions
Bertelsmann is expected to invest approximately Rs. 94 crore ($11 million), according to the company's regulatory filings. British International Investment and Elevar Equity, an early supporter, would contribute Rs. 34 crore ($4 million) and Rs. 31 crore ($3.6 million), respectively. The remaining funds have not yet been received.
CureBay, which was founded in 2021 by Priyadarshi Mohapatra, Shobhan Mohapatra, and Sanjay Swain, provides last-mile basic healthcare in small towns and villages via a network of tech-enabled e-clinics.
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Through its network of more than 150 eClinics operating in Odisha and Chhattisgarh, the company offers rural families high-quality, easily accessible, and reasonably priced services for doctor consultations, diagnostics, pharmacy, and tertiary care. There are 90,000 active participants in its preventive health program, and more than 60 percent of them renew.
