CureBay raises $21 Million in Series B funding
New Delhi: CureBay, a tech-first hybrid healthcare platform, has raised $21 million in its Series B funding round led by Bertelsmann India Investments. The round saw participation from existing investor Elevar Equity, reaffirmingits commitment to Curebay’s mission along with British International Investment, the UK’s development finance institution and impact investor.
This marks a significant milestone in CureBay’s journey to build India’s trust infrastructure for rural health by driving equity, access, and innovation across underserved geographies.
Launched in 2021 and headquartered in Odisha, CureBay has developed a scalable eClinic network powered by a best-in-class tech stack and a dedicated community workforce of trained and active Swasthya Mitras. It provides quality, accessible and affordable services for doctor consultation, diagnostics, pharmacy and tertiary care for rural households through its network of 150+ eClinics operational across Odisha and Chhattisgarh. Its preventive health program boasts 90,000 active members with a renewal rate exceeding 60%.
The latest capital infusion will be deployed to strengthen CureBay’s in-house, proprietary technology stack, expansion across India, while building the right teams to drive its next phase of growth. The company is utilising its AI and data capabilities for improving predictive care and operational efficiency and aims to expand its footprint to new states, including Jharkhand, Bihar, Uttar Pradesh and Madhya Pradesh. It will also invest in platform upgrades, proprietary algorithms and rural-first workflow automation tools that can one day be adapted for global health contexts.
Commenting on the development, Priyadarshi Mohapatra, Founder and CEO of CureBay, said, “At CureBay, we are a mission-driven team focused on transforming public health outcomes for every Indian. This is not just a fundraiser—it’s a mandate to build India’s trust infrastructure for rural health. With an active network of 150+ eClinics and 1,000+ Swasthya Mitras, we are solving for Bharat, where a large part of the population still lacks access to dependable care. The capital will help us scale technology, talent, and reach to bring dignified, affordable healthcare to the last mile. CureBay’s model is deeply aligned with national priorities like Ayushman Bharat and the Digital Health Mission, and we are proud to be a tech-enabled partner in public health delivery. This is not just a startup getting funded—it’s a public health movement getting backed.”
Pankaj Makkar, Managing Director, Bertelsmann India Investments, said, “We’re excited to partner with CureBay as it builds a differentiated, ecosystem-driven approach to rural healthcare in India. 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. This investment reflects Bertelsmann India’s strong commitment to supporting mission-driven companies that are transforming Bharat, with CureBay making quality healthcare both accessible and affordable for rural communities.”
Jyotsna Krishnan, Managing Partner, Elevar Equity, said, “Curebay has demonstrated that a thoughtfully constructed business model can deliver robust unit economics and contribution margins. On the one hand, they leverage cutting-edge technology and AI, but more importantly, they blend into the local ecosystem to build critical trust on the ground in rural markets through a unique distribution set-up. Entrepreneurial Households in India are keen to pay for quality healthcare, and this is a massive underserved segment. We are glad Elevar’s original investment thesis in 2022 played out well. This round is an important milestone for the company as they continue to build scale in a disciplined manner.”
CureBay’s proprietary technology—built entirely in-house—is designed to meet the complex needs of rural healthcare delivery. It leverages AI/ML, Generative AI, and IoT diagnostics to enhance early detection, forecasting, and personalised care, making last-mile healthcare both intelligent and inclusive. The newest infusion of funds from marquee investors is a testament to CureBay’s scalable and strong business model. It recently announced that its Balasore and Puri Circles have achieved operational profitability.
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