Curebay secures funding spearheaded by Elevar Equity
Healthcare startup CureBay has marked a significant milestone by raising ₹62 crore in its series A1 funding round, spearheaded by Elevar Equity. CureBay is dedicated to addressing primary healthcare challenges in remote areas through an innovative hybrid model.
The influx of this fresh funding is poised to fortify CureBay’s mission of establishing a robust health data platform while attracting top-tier tech and healthcare talent. Priyadarshi Mohapatra, the founder and CEO of CureBay, emphasized the company’s strategic focus areas with this investment.
Mohapatra outlined, “We’re dedicated to advancing our data platform and recruiting data scientists, laying the groundwork for one of the most extensive healthcare solutions. Our focus extends to securing high-caliber medical professionals, especially in diagnostic and pharmacy domains. Furthermore, we aim to introduce a membership program to curate patients’ out-of-pocket expenses.”
Physics wallah shows massive financial gains
In a different domain, tech giant Physics Wallah showcased impressive financial performance, reporting a profit of ₹16 crores for FY23 despite witnessing a seven-fold increase in expenditures. The company’s standalone revenue soared to ₹798 crore, predominantly driven by its offline centers. Paid enrollments escalated from 9 lakh students in the previous year to 24 lakh in FY23.
Having amassed $100 million in funding during FY23 and acquiring eight companies, Physics Wallah foresees revenues of approximately ₹500 crore emanating from these acquisitions, a projection aligned with their FY24 targets.
Transitioning to the realm of fashion, bamboo-based kids’ fashion brand Kidbea secured $1 million in its pre-series A round led by Venture Catalysts. This funding round also saw participation from Agility Ventures, Bestvantage Investments, and Japanese celebrity actor Hiro Mizushima.
Kidbea, renowned for its diverse product range encompassing over 250 items ranging from rompers, bodysuits, and reusable cloth diapers to soft toys and accessories, aspires to evolve into a ₹500 crore global brand within the next three years. Co-founder Swapnil Srivastav discussed Kidbea’s ambitious aspirations and strategies in a conversation with CNBC-TV18.
These diverse ventures’ recent funding rounds and financial achievements signify a promising trajectory in healthcare innovation, education technology, and sustainable fashion. The capital influx and strategic initiatives underscore an industry-wide commitment to revolutionizing sectors crucial to society’s well-being and development.