CureBay Raises $21 Mn in Series B Round to Expand Rural Healthcare Network
With the newly raised funds, CureBay aims to broaden its reach to states like Jharkhand, Bihar, Uttar Pradesh, and Madhya Pradesh.
Rural-focused healthcare platform CureBay has raised $21 million in a Series B funding round led by Bertelsmann India Investments (BII), with participation from existing investors Elevar Equity and British International Investment, the UK government's development finance institution.
The Odisha-based startup plans to use the fresh capital to strengthen its technology infrastructure, expand into new geographies, and enhance healthcare access in underserved rural areas across India.
Scaling Operations & Expanding Geographic Footprint
Founded in 2021 by Priyadarshi Mohapatra, Shobhan Mahapatra, and Sanjay Swain, CureBay currently operates over 150 eClinics across Odisha and Chhattisgarh.
These eClinics offer a range of services, including medical consultations, diagnostics, pharmacy access, and referrals for surgeries.
With the newly raised funds, CureBay aims to broaden its reach to states like Jharkhand, Bihar, Uttar Pradesh, and Madhya Pradesh.
The company will also invest in workflow automation and predictive care tools and reinforce its proprietary technology stack designed specifically for the rural healthcare ecosystem.
"The funding will support the next phase of our scale-up, including technology development, team building, and operational expansion," said Priyadarshi Mohapatra, CureBay's Co-founder and CEO.
CureBay's model is built around the insight that while rural Indians are willing to spend on healthcare, their primary challenge is access, not affordability.
"It's a myth that rural India can't pay. They spend more on an average than urban India. Their issue is access," Mohapatra told YourStory. He highlighted how many rural patients delay care due to the economic cost of travel and potential loss of a day's income.
Furthermore, patients often fall victim to intermediaries or healthcare brokers when they seek care in district hospitals. These intermediaries exploit their lack of information and urgency, leading to poor-quality treatments and distrust in the system.
Concierge-Style Support for Tertiary Care Referrals
To combat these issues, CureBay has introduced a concierge-style service. When rural patients are referred to tertiary care hospitals, CureBay ensures they are welcomed and guided through the complex system, much like a family doctor's assistance.
This hands-on support is designed to improve patient trust and healthcare outcomes.
CureBay operates a hybrid care delivery system, combining digital technology with physical infrastructure. Its network follows a "circle model," where a cluster of eClinics is supported by logistics, diagnostic centers, and local medical partners.
This allows the platform to integrate clinical consultations, diagnostic testing, pharmacy delivery, and referrals under one seamless system.
"While most rural solutions remain fragmented, CureBay uniquely delivers the full continuum of care under one platform," said Pankaj Makkar, Managing Director at Bertelsmann India Investments.
"This investment reflects our strong commitment to supporting mission-driven companies that are transforming Bharat."
Despite operating a human-intensive model, CureBay claims robust unit economics. Each circle reportedly reaches break-even within 18–20 months and full investment returns, including EBITDA losses, within 30 months.
Notably, the company's early circles in Balasore and Puri have already achieved operational profitability.
In a unique achievement, CureBay has transitioned over 100,000 rural patients to preventive care through a subscription-based programme—a proven elusive model even in urban India.
The platform's preventive health membership currently has 90,000 active users, with a renewal rate exceeding 60%, underscoring the trust and value users place in the service.
Tech-Enabled Care with AI & IoT Integration
CureBay's proprietary technology is designed to meet rural healthcare needs at scale.
It integrates artificial intelligence (AI), generative AI, and IoT diagnostics for early disease detection and patient monitoring, helping clinicians deliver timely and accurate interventions.
With a workforce of over 1,000 'Swasthya Mitras' and having served over 550,000 unique patients, CureBay is emerging as a key player in India's rural healthtech landscape.
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