CureBay raises ₹100 crore in a pre-Series C funding round led by IvyCap Ventures, as the rural healthcare startup plans to expand its network and strengthen its technology capabilities.
The funding comprises ₹69 crore in equity and more than ₹30 crore in debt. Trifecta Capital, Alteria Capital and VentureSoul Partners participated in the debt component. Existing investors also participated in the equity round.
CureBay will use the fresh capital to expand its healthcare delivery network, enter new markets, including Andhra Pradesh, and strengthen its technology and artificial intelligence capabilities.
CureBay funding to support expansion and AI development
The company plans to develop its proprietary intelligence layer to improve patient screening, generate health insights and support clinical decision-making.
CureBay operates a hybrid healthcare model that combines physical clinics with digital services. Its offerings include doctor consultations, medication delivery, diagnostic tests, surgery facilitation and health memberships.
Founder and CEO Priyadarshi Mohapatra said rural healthcare requires an integrated delivery system rather than another standalone application.
“Rural India doesn’t need another app; it needs a system that works end to end, from the Swasthya Mitra at the doorstep to the specialist in the city,” Mohapatra said.
He added that the funding would help the company expand into more states and use AI to support healthcare delivery.
“This capital lets us take that operating system to more states and make our AI do the heavy lifting, so that every family gets the right care at the right time, close to home,” he said.
CureBay operates over 250 clinics across seven states
Founded in 2021, CureBay operates more than 250 technology-enabled clinics across seven states. Its network includes over 1,800 Swasthya Mitras, 530 trained clinical staff and 230 doctor partners.
The company has served more than 17 lakh patients and works with over 210 partner hospitals and laboratories. It also conducts more than 400 health camps every month.
IvyCap Ventures founder and managing partner Vikram Gupta said CureBay’s combination of technology and an on-ground healthcare network made its business model compelling.
“We are excited to partner with CureBay as it scales its reach and continues to make quality healthcare more accessible to underserved communities across the country,” Gupta said.
The planned expansion will extend CureBay’s reach into additional markets while supporting its focus on technology-led services for underserved communities.
