Bhubaneswar-based healthcare startup CureBay has raised nearly ₹100 crore in a pre-Series C funding round to expand its rural healthcare operations and enhance its technology capabilities. The investment includes ₹69 crore in equity funding and more than ₹30 crore in debt.
IvyCap Ventures led the equity round with participation from existing investors. Trifecta Capital, Alteria Capital and VentureSoul Partners provided the debt financing.
Founded in 2021, CureBay aims to improve healthcare access in rural India through a technology-driven network of clinics, doctors, community health workers, hospitals and diagnostic laboratories. It currently operates more than 250 clinics across seven states and has served over 17 lakh patients since its inception.
The company has a network of more than 1,800 Swasthya Mitras, who deliver healthcare services at the community level, supported by 530 trained clinical staff and 230 doctor partners. Its network also includes 210 partner hospitals and laboratories. CureBay organises more than 400 health camps every month.
Funding to Drive Expansion and AI Development
CureBay plans to use the fresh capital to enter new markets, including Andhra Pradesh, and strengthen its proprietary technology platform. The company will also invest in artificial intelligence tools for health screening and clinical decision support.
Priyadarshi Mohapatra, founder and CEO of CureBay, said the funding would help extend the company’s integrated healthcare model 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 of IvyCap Ventures, highlighted the company’s combination of technology and on-ground healthcare services as a key factor behind the investment.
“As India works towards expanding access to quality healthcare across Bharat, we see significant potential in the company’s approach,” Gupta said.
Integrated Model for Rural Healthcare
Access to doctors, hospitals and diagnostic services remains uneven across India, with rural communities often facing greater barriers than urban populations. Technology-led healthcare providers are increasingly combining physical clinics, telemedicine and community-based services to address these gaps.
CureBay said it collaborates with the government on healthcare delivery initiatives and has been selected as the healthcare partner for Samriddhi Kendra, a Government of India programme.
Its operating model brings together six components: physical clinics with diagnostic equipment, community health workers, a digital platform, AI-powered screening tools, a 24-hour command centre and CureBay Kavach, a health coverage product.
The startup has previously received investment from Elevar Equity, among other investors. However, it has not disclosed the total funding raised so far.
With its latest funding, CureBay aims to expand its rural footprint and improve access to timely healthcare through technology, local healthcare workers and clinical partnerships. Its next phase of growth will depend on how effectively it scales this integrated model while maintaining affordable and accessible services for rural communities.
(Logo courtesy: facebook/curebay)