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Healthtech startup CureBay has raised $21 Mn (about INR 179.5 Cr) in its Series B funding round led by Bertelsmann India Investments. The round also saw participation from its existing investors Elevar Equity and new investor British International Investment.
The Bhubaneswar-based startup said it will use the capital to improve its AI and data capabilities for providing better predictive care in underserved areas. Besides, it plans to use the funds to expand its footprint to new states like Jharkhand, Bihar, Uttar Pradesh and Madhya Pradesh.
Founded in 2021 by Priyadarshi Mohapatra, Shobhan Mahapatra, and Sanjay Swain, CureBay operates a healthtech business that helps patients in underserved areas connect with healthcare providers and other key ecosystem players digitally.
It also offers medicine delivery, diagnostic tests, annual health memberships, a concierge service that supports patients throughout their healthcare journey, and more.
“We are trying to create a hybrid model by leveraging our tech platform as well as putting together a network of satellite clinics (eClinics), where healthcare workers are present, in the remotest area,” cofounder and CEO Mohapatra told Inc42.
CureBay claims to have presence in 32 districts in Odisha and Chhattisgarh, with a network of over 150 eClinics, over 1,000 ‘Swasthya Mitras’, and collaborations with more than 300 service providers.
To upgrade this network, the startup plans to deploy a part of the fresh capital to upgrade its in-house, proprietary technology stack and algorithm, and invest in building a rural-first workflow automation tool.
CureBay claims to have served 5.5 Lakh unique patients till date.
Prior to this, the startup raised INR 62 Cr in its Series A1 funding round led by Elevar Equity in January last year. It counts the likes of Stride Ventures,InCred Capital, Hemani Industries, among others, as its investors.
Increasing Investor Interest In Indian Healthtech
While the Indian healthtech sector is home to unicorns like PharmEasy, Cult.fit (earlier Curefit), Innovaccer, the segment has not been on the priority list of investors. It was the second least funded sector in India, with startups only raising $7 Bn across 886 deals between 2014 and H1 2024.
Investors have generally been cautious in infusing capital in the sector largely due to the difficulty that emerging players face in cracking the market, the dominance of established players, as well as the capital-intensive nature of the business.
However, it has been witnessing high investor interest in 2025 so far. Healthtech startups raised $301 Mn in the first three months of 2025. Earlier this month, PB Fintech’s healthcare venture PB Healthcare bagged $218 Mn (INR 1,843.17 Cr) in its seed funding round led by General Catalyst.
On backing CureBay, Bertelsmann India’s managing director Pankaj Makkar said that the startup has the potential to disrupt the rural healthcare market. “While most rural solutions remain fragmented, CureBay uniquely delivers the full continuum of care under one platform —seamlessly integrating consultations, diagnostics, pharmacy access, and surgeries through its tech-enabled eClinics and robust partner network,” he added.
The post CureBay Raises $21 Mn To Improve Healthcare Access In Rural India appeared first on Inc42 Media.
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