Indian digital health startup CureBay has raised INR 50 million ($6 million) in a Series A funding round led by Elevar Equity.
WHAT HE DOES
Established last year, CureBay enables last-mile access to primary healthcare services through its hybrid care model. It operates a technology platform and a network of e-clinics that offer a range of services, including appointment scheduling, teleconsultations, medication delivery, diagnostic testing and booking hospital admissions. hospital and concierge services.
WHAT’S THE POINT
At present, he has a network of 15 e-clinics across the state of Odisha. With his new funding, he can now pursue his plan to open another 100 e-clinics over the next 12 months. It also intends to hire more staff, expand to new locations, and further strengthen its platform and care delivery model.
WHY IS IT IMPORTANT
India is currently facing a shortage of health workers, with just one doctor treating 12,000 people – far from the World Health Organization’s recommended ratio of 1 doctor per 1,000 people.
Furthermore, only 28% of India’s population has access to doctors, hospitals and beds in major cities, leaving the remaining 72% in semi-urban and rural areas with very few sources of health care.
CureBay seeks to bridge this gap with its hybrid model. It helps walk-in patients connect with city doctors via telemedicine and provides access to a network of diagnostic labs and hospitals. It can also dispense prescribed medication via its e-clinics.
“Our hybrid model helps overcome the challenges of skewed patient-provider ratios and concentration of providers in a few urban pockets,” said CEO and Founder Priyadarshi Mohapatra.
Health tech startups in India continue to attract global and local investment. This latest investment round from CureBay follows rounds recently closed by Eka Care, Zyla, Truemeds and MediBuddy.
Two tech-focused derma startups, Clinikally and CureSkin, and mental health app heyy also picked up funds this year.