E-clinic startup CureBay in India has bagged $21 million in a Series B funding round led by Bertelsmann India Investment. Elevar Equity and British International Investment also joined the fundraising event.
Since launching in 2021, the company now has a chain of over 150 rural e-clinics across the states of Odisha and Chhattisgarh, employing over 1,000 community health workers, or Swasthya Mitras, who are trained to facilitate teleconsultations, diagnostic tests, medicine order and delivery, and hospital admission and concierge services. CureBay offers a preventive health service package to which around 90,000 are actively subscribed.
WHAT IT’S FOR
With its fresh funds, CureBay plans to deploy proprietary AI-powered algorithms to enable workflow automation and enhance the predictive capabilities of its rural e-clinic network. The startup has already integrated machine learning, generative AI, and Internet of Things diagnostics into its technology platform.
“The capital will help us scale technology, talent, and reach to bring dignified, affordable healthcare to the last mile,” added founder and CEO Priyadarshi Mohapatra.
CureBay raised more than $13 million in Series A funding in two rounds over the past three years to build its network. It targets to set up 200 e-clinics in rural India.
MARKET SNAPSHOT
Indian health tech startups developing or integrating AI into their technology stack have attracted the most investments in recent years. For example, medical imaging startup Qure.ai raised $65 million in Series D funding in September, while dermatology startup Cureskin raked in $20 million in Series B funding in March last year.
Dozee, which offers an AI-powered contactless vital signs monitoring and alert system, seeks to enter more international markets with its latest $8 million investment.
Kauvery Hospital, through its investing arm, Healthcare Capital, provided undisclosed funding to remote patient monitoring system developer Lifesigns to help augment its AI and predictive algorithm capabilities.
Early this year, BrainSight AI, which develops an AI-powered brain mapping platform, scored $5 million in pre-Series A funding, while Consint.AI, which offers generative AI-driven insurance technology solutions, raised $500,000 in seed funding.
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