CureBay: CureBay raises Rs 62 crore in funding round led by Elevar Equity

The funding round also saw participation from CureBay founders and some of the leadership team members.

The company said the funds will help it in creating access to affordable healthcare in medically underserved locations, build an intelligent health data platform and hire tech and healthcare talent.

CureBay had earlier raised Rs 50 crore funding from Elevar Equity in November 2022.

“The company aims to focus on driving profitability and data monetisation by investing in recurring revenue streams such as its membership programme and building its data practice – both in technology and on the go-to-market front,” it said in a statement.

The funding amount will be used to hire more than 200 professionals including data scientists, healthcare experts – specifically in diagnostics and pharmacy and to build their membership programme, it said.

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The company also plans to use the funds for its expansion plans over the next 6-12 months. It looks to increase its clinics from 90 to over 200 across Odisha, Chhattisgarh and Jharkhand.“We are committed to revolutionising healthcare in remote locations of India by providing affordable and high-quality primary care through a network of satellite health centers that aims to transform the patient experience. Our hybrid model leverages data and technology, driving affordability and strongly differentiates our approach to solving healthcare challenges at the grassroots level,” said Priyadarshi Mohapatra, founder and CEO, CureBay.

Jyotsna Krishnan, managing partner, Elevar Equity, said, “the company’s approach is unique; it does not aim to solely be a telemedicine provider or delivery aggregator. CureBay’s blended distribution model, augmented with technology, is well-positioned to address a massive gap – millions of customers in medically underserved locations are eager to pay for timely, quality healthcare”.

The funding round also saw participation from CureBay founders and some of the leadership team members.

The company said the funds will help it in creating access to affordable healthcare in medically underserved locations, build an intelligent health data platform and hire tech and healthcare talent.

CureBay had earlier raised Rs 50 crore funding from Elevar Equity in November 2022.

“The company aims to focus on driving profitability and data monetisation by investing in recurring revenue streams such as its membership programme and building its data practice – both in technology and on the go-to-market front,” it said in a statement.

The funding amount will be used to hire more than 200 professionals including data scientists, healthcare experts – specifically in diagnostics and pharmacy and to build their membership programme, it said.

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The company also plans to use the funds for its expansion plans over the next 6-12 months. It looks to increase its clinics from 90 to over 200 across Odisha, Chhattisgarh and Jharkhand.“We are committed to revolutionising healthcare in remote locations of India by providing affordable and high-quality primary care through a network of satellite health centers that aims to transform the patient experience. Our hybrid model leverages data and technology, driving affordability and strongly differentiates our approach to solving healthcare challenges at the grassroots level,” said Priyadarshi Mohapatra, founder and CEO, CureBay.

Jyotsna Krishnan, managing partner, Elevar Equity, said, “the company’s approach is unique; it does not aim to solely be a telemedicine provider or delivery aggregator. CureBay’s blended distribution model, augmented with technology, is well-positioned to address a massive gap – millions of customers in medically underserved locations are eager to pay for timely, quality healthcare”.