Total amount raised
₹1.1 Billion
Latest funding date
1/1/2024
Location
CureBay has successfully raised funding over three rounds, with the latest being a Series B. The healthcare platform is backed by five investors, including Bertelsmann India Investments and Elevar Equity.
Keep reading to explore the intricacies of CureBay's fundraising journey and the investors backing this innovative platform.
What Is CureBay?
CureBay is a healthcare platform based in Bhubaneshwar, Orissa, India. The company specializes in teleconsultation and healthcare services through a network of microsatellite centers.
With an employee count ranging between 501-1000, CureBay operates within the healthcare, hospital, medical, and therapeutics industries. The company has successfully raised funding through three rounds, with the latest being a Series B.
How Much Funding Has CureBay Raised?
- Series A
- Amount Raised: USD 6.1 million
- Date: November 2022
- Lead Investors: Elevar Equity
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To build 85 clinics, shore up hiring, and expand the startup's footprint to other locations.
- Series A1
- Amount Raised: USD 7.5 million
- Date: January 2024
- Lead Investors: Elevar Equity
- Valuation at Round: USD 55 million
- Motivation Behind the Round: To enhance healthcare accessibility, build a health data platform, and hire over 200 professionals.
- Series B
- Amount Raised: USD 21 million
- Date: May 2025
- Lead Investors: Bertelsmann India Investments
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand teleconsultation services and enhance the network of microsatellite centers.
Total Amount Raised: USD 34.6 million. Current Valuation: USD 55 million.
Key Investors
- Elevar Equity
- Details: Elevar Equity is a major investor in CureBay, leading multiple funding rounds including the Series A and Series A1. They hold the largest external stake in CureBay at 34.08%.
- Investment Focus Areas: Healthcare, underserved populations, technology-driven services.
- Notable Investments: CureBay, other investments not specified.
- Bertelsmann India Investments
- Details: Bertelsmann India Investments is a key investor in CureBay, leading the Series B funding round. They are part of the global media, services, and education company Bertelsmann.
- Investment Focus Areas: Media, services, education, digital health.
- Notable Investments: Not specified.
- Hemani Industries
- Details: Hemani Industries is a significant investor in CureBay, holding a notable stake. They are involved in the chemical manufacturing sector.
- Investment Focus Areas: Chemicals, manufacturing, healthtech.
- Notable Investments: Not specified.
- InCred Wealth
- Details: InCred Wealth is another notable investor in CureBay, contributing to the financial backing of the company. They focus on wealth management and financial services.
- Investment Focus Areas: Financial services, wealth management, healthtech.
- Notable Investments: Not specified.
What's Next for CureBay?
As CureBay looks to the future, the opportunities for growth are vast. The company plans to expand its network of clinics from 90 to over 200 across Odisha, Chhattisgarh, and Jharkhand, enhancing healthcare accessibility in underserved regions. This expansion is bolstered by the recent funding rounds, which have raised significant capital to support these initiatives.
Future fundraising opportunities appear promising, with potential for additional Series B or later-stage funding rounds. The focus on building a robust health data platform and hiring over 200 professionals, including data scientists and healthcare experts, positions CureBay well for attracting further investments. Strategic partnerships and acquisitions may also play a role in their growth strategy.
However, challenges lie ahead. Scaling operations to cover more remote areas while maintaining the quality and affordability of healthcare services will be crucial. Additionally, navigating regulatory and logistical hurdles, as well as competition from other healthtech platforms, will require careful planning and execution. Despite these challenges, CureBay's commitment to revolutionizing healthcare in remote locations sets a strong foundation for future success.
Use Clay to Get Funding Data
Sales professionals, leverage Clay’s platform to access comprehensive fundraising data on companies like CureBay and gather other critical business insights. Sign up for free to start transforming your sales strategy today.
