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CureBay Raises another Rs. 62 Crore from Existing Investor Elevar Capital and others

Cure Bag Series A1 Funding

Healthtech startup CureBay raised INR 62 Cr in its Series A1 funding round led by Elevar Equity.

CureBay have a vision to transform patient experience in the underserved markets by bridging the gap which exists in primary healthcare. They introduced a hybrid healthcare and fulfilment model that helps connect patients in underserved markets to healthcare providers and other key ecosystem players digitally and executing it through a robust 3-tier model of Hub, Spoke and a network of satellite health centres.

The CureBay will deploy the funds to build an intelligent and robust health data platform and hire over 200 professionals, including data scientists, diagnostics and pharmacy experts, to work on its membership programme that drives its longitudinal data and affordability initiatives.

Cofounder and CEO Priyadarshi Mohapatra said, “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 centres that aims to transform the patient experience.”

Co-Founded in 2021 by Mohapatra, Shobhan Mahapatra, and Sanjay Swain, CureBay operates on a hybrid model. It offers teleconsultation services with doctors as well as healthcare services through a network of microsatellite centres, enabling all healthcare providers to participate on its platform and make their services available to people in remote locations.

CureBay aims to increases its revenue streams such as its membership programme and building its data practice.

This will help to achieve profitability

The company appears to be in pre-revenue stage as its revenue from operations stood at Rs 63 lakhs during FY23 while the losses widened to Rs 15.95 crore in the last fiscal year.

The startup claims to have connected over 1,00,000 patients from the underserved areas with healthcare providers. Currently, its clinics cover close to 32,000 villages in India.

In 2022, the startup had secured INR 50 Cr in its Series A funding round led by Elevar Equity. Back then, it said that the funds would be deployed to build 85 clinics, shore up hiring, and expand footprint to other locations.


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