Key Points
- CureBay raises approximately ₹100 crore in pre-Series C funding round
- Company operates 250 clinics across seven states serving 17 lakh patients
- IvyCap Ventures leads equity portion of ₹69 crore in the round
CureBay, a Bhubaneswar-based healthcare startup focused on rural India, has raised approximately ₹100 crore in a pre-Series C funding round led by IvyCap Ventures. The round comprises ₹69 crore in equity and over ₹30 crore in debt financing.
The equity portion was led by IvyCap Ventures alongside existing investors. The debt component came from Trifecta Capital, Alteria Capital and VentureSoul Partners, according to the company.
CureBay, founded in 2021, describes itself as building a rural healthcare operating system, a network that connects technology-enabled clinics with community health workers, doctors, hospitals and diagnostic laboratories. The company currently operates over 250 clinics across seven states and says it has served more than 17 lakh patients since launch.
The startup’s network includes more than 1,800 Swasthya Mitras, community health workers who provide doorstep services, along with 530 trained clinical staff, 230 doctor partners and 210 partner hospitals and laboratories. The company conducts over 400 health camps monthly, according to its statement.
CureBay expansion plans
The fresh capital will fund CureBay’s geographic expansion, including entry into Andhra Pradesh. The company said it will also invest in strengthening its proprietary technology and artificial intelligence capabilities for health screening and clinical decision support.
Priyadarshi Mohapatra, founder and CEO, CureBay, said the funding would help the company extend its operating system to more states. “Rural Bharat 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. “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.”
Vikram Gupta, founder and managing partner, IvyCap Ventures, said the startup’s combination of technology with ground-level healthcare delivery made the investment attractive. “As India works towards expanding access to quality healthcare across Bharat, we see significant potential in the company’s approach,” Gupta said.
By the numbers
Key figures from this story- ₹100 crore
- Total funding raised in pre-Series C round
- 250+
- Technology-enabled clinics across seven states
- 17 lakh+
- Patients served since 2021 launch
Rural healthcare access remains a significant challenge in India. According to government data, rural areas have fewer doctors, hospitals and diagnostic facilities per capita compared to urban centres. Several startups have emerged in recent years attempting to bridge this gap through technology-enabled models combining telemedicine, community health workers and physical clinics.
CureBay said it works with the government on healthcare delivery initiatives and has been named the healthcare partner for Samriddhi Kendra, a Government of India programme. The company’s model integrates six layers which includes physical clinics equipped with diagnostic devices, a network of community health workers, a digital platform, AI-powered screening tools, a round-the-clock command centre and a health coverage product called CureBay Kavach, according to the company.
The startup has previously raised funding from investors including Elevar Equity, though the company did not disclose cumulative funding raised to date.
Your Questions, Answered
How much funding has CureBay raised in its pre-Series C round?
CureBay has raised approximately ₹100 crore, comprising ₹69 crore in equity led by IvyCap Ventures and over ₹30 crore in debt from Trifecta Capital, Alteria Capital and VentureSoul Partners.
How many clinics does CureBay operate?
CureBay operates over 250 technology-enabled clinics across seven states in India and says it has served more than 17 lakh patients since its founding in 2021.
What will CureBay use the funding for?
The company plans to use the capital for geographic expansion including entry into Andhra Pradesh, and to strengthen its proprietary technology and AI capabilities for health screening and clinical decision support.
What is a Swasthya Mitra in CureBay's model?
Swasthya Mitras are community health workers in CureBay's network who provide doorstep healthcare services. The company has more than 1,800 Swasthya Mitras supporting its rural healthcare delivery.
