To build its data science capabilities and strengthen its diagnostics, pharmacy and membership verticals
CureBay, healthcare start-up focused on solving primary healthcare in remote locations through an innovative hybrid model has successfully raised approx Rs 62 crore in a Series A1 funding round. The round was led by Elevar Equity, their existing investor and saw participation from CureBay founders and some of the leadership team members. The newly raised funding will enable the health-tech innovator to continue creating access to high quality and affordable healthcare in medically underserved locations, build an intelligent and robust health data platform and hire the best tech and healthcare talent in the industry.
As part of its growth strategy, the company aims to focus on driving profitability and data monetisation by investing in recurring revenue streams such as its membership program and building its data practice both in technology and on the go-to-market front. The funding amount will further be used to hire over 200 professionals including data scientists, healthcare experts specifically in diagnostics and pharmacy and to build their membership program that strongly drives their longitudinal data and affordability initiatives.
The fresh funding will also help in driving CureBay’s expansion plans over the next 6-12 months, raising its count of clinics – from the existing 90+ to over 200 across Odisha, Chhattisgarh and entering a new market Jharkhand.
Priyadarshi Mohapatra, Founder and CEO, CureBay said,” We are committed to revolutionizing 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. Powered by an innovative technology platform, Curebay enables doctors to deliver a high-quality consultation and provides patients with comprehensive care. Our powerful suite of services, previously beyond the reach of most rural Indians, includes assisted doctor consultations, medicine procurement, pathology, hospitalisation coordination and medical reimbursement support. Our mission requires aligned capital, and we are excited to partner with Elevar Equity. Their focus on customer-centricity has yielded a deep understanding of the aspirations, priorities and challenges as well as cash-flows of underserved customers. Our hybrid model leverages data and technology, driving affordability and strongly differentiates our approach to solving healthcare challenges at the grassroots level.”