Odisha-based hybrid healthcare platform CureBay raises $21 million in funding

CureBay, a tech-first hybrid healthcare platform, has raised $21 million in a Series B funding round led by Bertelsmann India Investments. The round saw participation from existing investor Elevar Equity and British International Investment, the UK’s development finance institution and impact investor.

Founded in 2021 by Priyadarshi Mohapatra, Shobhan Mahapatra, and Sanjay Swain, and led by industry veterans like President Vasant Nangia, CureBay is a hybrid healthcare platform transforming last-mile access to affordable, high-quality healthcare in India’s underserved regions.

CureBay's offerings

The startup offers a full spectrum of services, including doctor consultations, medication delivery, diagnostic tests, surgery facilitation, annual health memberships, and a concierge service that supports patients throughout their healthcare journey, from admission to discharge.

CureBay leverages proprietary platform to connects patients with what it calls an affordable and quality healthcare services, regardless of their location, income, or insurance status.

The startup claims that its hybrid online and physical healthcare and fulfilment model has been successfully implemented across more than 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. Since its inception, CureBay has served over 5.5 lakh unique patients.

Purpose of fundraising

CureBay said the latest capital infusion will be deployed to strengthen its in-house, proprietary technology stack, expansion across India, while building the right teams to drive its next phase of growth.

The Odisha-based startup 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, as per the statement.

"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," said Priyadarshi Mohapatra, Founder and CEO of CureBay.

"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," Mohapatra said, adding the company's model is aligned with Ayushman Bharat and the Digital Health Mission.

Investors comment

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."

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."