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CureBay raises $21M led by Bertelsmann India
The funding will be used to enhance CureBay’s technology infrastructure and expand its rural healthcare network across multiple Indian states. It is also looking to strengthen its proprietary technology stack and expand into new geographies.
Rural focused healthcare platform CureBay has secured $21 million in Series B funding round led by Bertelsmann India Investments. The round also saw participation from Elevar Equity and British International Investment (BII), the UK’s development finance institution.
The fresh funds will be used to enhance CureBay’s technology infrastructure and expand its rural healthcare network across multiple Indian states, the company said in a statement. CureBay is also looking to strengthen its proprietary technology stack, expand into new geographies including Jharkhand, Bihar, Uttar Pradesh, and Madhya Pradesh, and invest in workflow automation and predictive care tools tailored to rural healthcare needs.
Founded in 2021 by Priyadarshi Mohapatra, Shobhan Mahapatra, and Sanjay Swain, CureBay currently operates over 150 eClinics across Odisha and Chhattisgarh, providing doctor consultations, diagnostics, pharmacy services, and surgical referrals. Based in Odisha, the company reports having served approximately 550,000 unique patients and is supported by a workforce of more than 1,000 workers dubbed as Swasthya Mitras.
“We are focused on addressing healthcare access challenges in underserved regions,” said Priyadarshi Mohapatra, Founder and CEO of CureBay. “The funding will support the next phase of our scale-up, including technology development, team building, and operational expansion.”
Speaking to YourStory, Mohapatra said, “It’s a myth that rural India can’t pay. They spend more on an average than urban India. Their issue is access, not affordability.”
CureBay’s real insight came from the psychology of rural patients. Many delay care because seeing a doctor means losing a day’s income. Worse, when they do travel to district hospitals, they often fall prey to healthcare brokers who exploit their urgency and illiteracy.
“They get lured into clinics that promise quick treatment, pay money, and often get subpar care. That’s the reason they avoid traveling for care," he said.
To counter this, CureBay has introduced concierge-style support. When rural patients are referred to tertiary hospitals, the company ensures someone greets them, assists them like a family doctor would, and shepherds them through what is often an overwhelming experience.
CureBay operates a hybrid care delivery system, combining physical clinics with a digital platform. Its model integrates clinical consultations, diagnostic testing, pharmacy delivery, and tertiary care referrals under a single infrastructure. The company’s clinic network follows a “circle” model, with each cluster supported by logistics, diagnostic handling, and local medical networks.
"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," said Pankaj Makkar, Managing Director, Bertelsmann India Investments.
"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," he added.
Despite the human-intensive model, CureBay claims strong unit economics. Its circles reach break-even in 18–20 months, with full investment pay back including EBITDA losses by month 30. Its early circles in Puri and Balasore are already operating at break-even.
The company has served over 500,000 patients, and notably, has moved over 100,000 rural Indians onto preventive care via a subscription-based service—a feat few urban healthcare models have achieved. Renewal rates for this service stand at 60%, suggesting high stickiness and trust.
“Even urban India hasn’t cracked preventive care. But we’ve been able to guide rural patients into that journey,” said Mohapatra.
The platform also supports a preventive health membership programme, which currently has 90,000 active users and a renewal rate of over 60%, according to company data. CureBay’s in-house technology incorporates AI, generative AI, and IoT diagnostics for early detection and patient management.
Two of CureBay’s operational circles Balasore and Puri have achieved operational profitability, the company noted.
Edited by Megha Reddy
