Indian well being tech startup CureBay scores $6M in Collection A funding

Indian digital well being startup CureBay has raised INR 50 million ($6 million) in a Collection A funding spherical led by Elevar Fairness. 

WHAT IT DOES

Established final yr, CureBay permits last-mile entry to major healthcare providers by way of its hybrid care mannequin. It runs a know-how platform and a community of e-clinics that gives a variety of providers, together with appointment scheduling, teleconsultations, medication supply, diagnostic check and hospital admission reserving and concierge providers. 

WHAT IT’S FOR

At current, it has a community of 15 e-clinics throughout the state of Odisha. With its contemporary funding, it will probably now pursue its plan of opening 100 extra e-clinics within the subsequent 12 months. It additionally intends to rent extra employees, develop to new places, and additional strengthen its platform and care supply mannequin.

WHY IT MATTERS

India is at present going through a scarcity in its healthcare workforce, having just one physician seeing 12,000 individuals – which is way from the really helpful ratio of 1 physician per 1,000 inhabitants by the World Well being Group. 

Apart from that, solely 28% of the Indian inhabitants has entry to medical doctors, hospitals, and beds in main cities, leaving the remaining 72% in semi-urban and rural areas with only a few sources of healthcare.

CureBay seeks to bridge this hole by way of its hybrid mannequin. It assists walk-in sufferers in connecting with city-based medical doctors through telemedicine and gives entry to a community of diagnostic laboratories and hospitals. It may possibly additionally ship prescribed medicines by way of its e-clinics.

“Our hybrid mannequin helps in overcoming the challenges of skewed patient-provider ratios and the focus of suppliers in just a few city pockets,” mentioned CEO and founder Priyadarshi Mohapatra.

MARKET SNAPSHOT

Well being tech startups in India proceed to draw world and native investments. This newest investing spherical by CureBay follows not too long ago closed rounds by Eka Care, Zyla, Truemeds, and MediBuddy. 

Two tech-driven derma startups, Clinikally and CureSkin, and the psychological well being app heyy additionally scooped up fundings this yr.