Funding rural healthcare: Elevar Fairness invests Rs 50 cr in e-clinics start-up CureBay

Healthtech start-up CureBay has raised Rs 50 crore (approx. $6.12 million) in a Sequence A spherical led by Elevar Fairness to launch 100 e-clinics within the subsequent 12 months. The Bhubaneshwar-based well being tech platform will deploy the capital in the direction of buying expertise, increasing to new areas, and strengthening its tech-led healthcare supply mannequin. 

At current, CureBay operates 15 e-clinics in distant districts and villages of Odisha, and has helped over 10,000 sufferers in medically underserved areas. That is the start-up’s first institutional fundraise, in accordance with Tracxn.

Priyadarshi Mohapatra, Founder & CEO, CureBay, mentioned, “We intend to empower the healthcare system and make it accessible to sufferers who lack info and correct medical assets. Our hybrid mannequin helps in overcoming the challenges of skewed patient-provider ratios and the focus of suppliers in just a few city pockets. We need to thank Elevar Fairness for its belief in our mission to supply the Proper to Well being for each citizen even within the remotest areas of India.”

Based in 2021 by Priyadarshi, Shobhan Mahapatra, and Sanjay Swain, CureBay connects sufferers in underserved markets to last-mile healthcare suppliers. Its educated healthcare employees on the e-clinics help walk-in sufferers and allow video consultations with city-based medical doctors. Sufferers may also avail a community of licensed companion labs in addition to hospitals for specialised therapy and drugs deliveries. On the opposite facet, the platform’s tech permits medical doctors to entry detailed and customized affected person data, thus enhancing analysis and the standard of healthcare offered. 

“We now have lengthy held the view that rural healthcare platforms must be custom-designed for this market. CureBay’s blended distribution mannequin with assisted tech is well-positioned to deal with a large hole – hundreds of thousands of consumers are wanting to pay for high quality healthcare in medically underserved areas,” Jyotsna Krishnan, Managing Companion, Elevar Fairness, said.

Within the final couple of years, particularly because the pandemic, VCs have taken nice curiosity in India’s 3,000-odd healthtech start-ups, which raised a file $1.9 billion in 2021, in accordance with a report by Dealroom. This makes India the fourth largest healthtech market on the planet, solely behind the US, China, and the UK.

Additionally learn: Fireplace Ventures leads $10 mn funding spherical in Bengaluru-based petcare start-up Supertails

Additionally learn: Begin-up layoffs: Tiger International, Sequoia-backed Plum dismisses 10% of its workforce