Health-Tech Startup CureBay Raises INR 62 Crore in Series A Funding Led by Elevar Equity for Expanding Affordable Healthcare in Remote Areas.
CureBay, a startup dedicated to addressing primary healthcare challenges in remote regions, has successfully secured INR 62 crore in a Series A funding round. The investment was led by Elevar Equity, along with contributions from existing investors, founders, and members of the leadership team.
In an official statement, CureBay outlined its intention to utilize the funds to enhance access to high-quality and affordable healthcare in underserved locations. The startup plans to focus on building an intelligent health data platform and aims to hire over 200 professionals, including data scientists and healthcare experts.
Founder and CEO Priyadarshi Mohapatra revealed that the funds will support the expansion of CureBay’s clinic network from 90 to over 200 across Odisha and Chhattisgarh. Additionally, the startup has plans to enter the state of Jharkhand.
Jyotsna Krishnan, Managing Partner at Elevar Equity, commended CureBay’s blended distribution model, augmented with technology, stating that it is well-positioned to cater to millions of customers in medically underserved locations who are eager to pay for timely and quality healthcare. Krishnan emphasized the aspiration of rural households for affordable access to healthcare services.
Founded in 2021, CureBay reported connecting over 1 lakh patients in underserved areas with healthcare providers through its tech-based model. Currently, the startup’s clinics cover nearly 32,000 villages in Odisha and Chhattisgarh.
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