CureBay Raises ₹100 Crore in Pre-Series C Funding Led by IvyCap Ventures

CureBay, an Indian rural healthcare startup, has raised approximately ₹100 crore in a Pre-Series C funding round led by IvyCap Ventures. The funding combines equity investment from IvyCap and existing investors with debt financing from three lenders, providing capital for the company's expansion and technology development.

The round includes ₹69 crore in equity and more than ₹30 crore in debt. Trifecta Capital, Alteria Capital and VentureSoul Partners participated in the debt component.

CureBay plans to use the fresh capital to expand its presence across India, including entering Andhra Pradesh. The company will also strengthen its technology and artificial intelligence capabilities to improve health screening, patient insights and clinical decision-making.

Founded in 2021 by Priyadarshi Mohapatra, Shobhan Mahapatra and Sanjay Swain, CureBay focuses on providing technology-enabled healthcare services in underserved communities. Its model combines physical clinics, digital healthcare tools, a network of community health workers and partnerships with doctors, hospitals and diagnostic laboratories.

How CureBay Is Expanding Rural Healthcare Access

Access to healthcare can be challenging in underserved communities where medical facilities, diagnostic services and specialist consultations may be difficult to reach. CureBay's approach combines local healthcare infrastructure with technology to bring multiple services closer to patients.

The company's technology-enabled clinics provide doctor consultations, medicines, diagnostic tests, surgery facilitation and annual health memberships. By bringing these services together, CureBay aims to make healthcare more accessible through a coordinated network rather than relying on a single type of facility.

Its model also includes community-based healthcare workers who help connect patients with the services available through the network.

According to the company information reported by Entrackr, CureBay operates more than 250 clinics across seven states. Its network is supported by over 1,800 Swasthya Mitras, 530 trained clinical staff, 230 doctor partners and more than 210 partner hospitals and laboratories.

The startup reports having served over 17 lakh patients and conducting more than 400 health camps every month.

These figures indicate the scale of its existing operations as it prepares to expand into additional markets.

A Six-Layer Healthcare Delivery Model

CureBay operates a six-layer rural healthcare system designed to connect physical care delivery with digital infrastructure and community outreach.

The model combines physical clinics, a community health worker network, a digital platform, AI-powered screening, a 24/7 command centre and CureBay Kavach.

The physical clinics provide a local point of access for patients, while the community health worker network helps connect people with the broader healthcare system. The digital platform supports coordination, and AI-powered screening is intended to contribute to the identification and assessment of potential health concerns.

The company also uses a round-the-clock command centre as part of its operating model. The supplied report identifies CureBay Kavach as the sixth component but does not provide a detailed description of its functions.

Together, these elements form the foundation of CureBay's approach to delivering healthcare services across geographically dispersed communities.

The effectiveness of this model will depend on the availability of clinical professionals, the reliability of its technology and the company's ability to maintain service quality as the network grows.

AI and Technology Take Centre Stage

A key part of CureBay's expansion strategy is strengthening its technology and artificial intelligence capabilities.

The company plans to use these capabilities to improve health screening, generate patient insights and support clinical decision-making. These applications could help healthcare teams organise patient information and identify cases that may require additional attention.

However, AI tools in healthcare need to complement appropriate clinical oversight. Their usefulness depends on the quality of the data, the reliability of the systems and how effectively their outputs are integrated into medical workflows.

CureBay's funding announcement does not specify the AI systems it plans to develop, the technologies it will use or the clinical performance measures against which they will be evaluated.

The investment nevertheless signals that technology development is an important part of the company's next phase of growth, alongside the expansion of its physical healthcare network.

Expansion Plans Include Andhra Pradesh

CureBay intends to expand its operations across India, with Andhra Pradesh among the markets targeted for entry.

The expansion will build on its existing presence across seven states. Its clinic network, community health workers and partnerships with healthcare providers form the operational base for reaching additional underserved communities.

Entering new markets will require the company to establish local healthcare infrastructure, build relationships with medical professionals and diagnostic providers, and coordinate its services across different locations.

CureBay also works with government healthcare delivery initiatives. The company has been named the healthcare partner for Samriddhi Kendra, a Government of India initiative, according to the funding announcement.

The report does not specify the exact timeline for its Andhra Pradesh entry or the number of clinics planned as part of the expansion.

Funding Structure and Previous Investment

The approximately ₹100 crore Pre-Series C round combines equity and debt financing.

IvyCap Ventures led the equity round, alongside existing investors, contributing to the ₹69 crore equity component. More than ₹30 crore in debt was provided by Trifecta Capital, Alteria Capital and VentureSoul Partners.

This financing structure gives CureBay capital for expansion while combining investment with borrowing. The precise allocation of the funds between clinic expansion, technology development and other operating requirements has not been disclosed.

CureBay last raised $21 million in a Series B funding round in May 2025. That round was led by Bertelsmann India Investments, with participation from existing investor Elevar Equity and British International Investment.

The latest funding builds on that earlier investment as the company continues to develop its rural healthcare network.

What Lies Ahead for CureBay?

CureBay's next phase will focus on expanding its geographic reach and strengthening the technology behind its healthcare delivery model.

Its existing network of more than 250 clinics, over 1,800 Swasthya Mitras and partnerships with doctors, hospitals and laboratories provides a foundation for that growth. The planned expansion into Andhra Pradesh will be an important step in testing how effectively the model can be extended into additional markets.

At the same time, investments in AI-powered screening and patient insights could help the company develop its digital capabilities. The impact of those investments will depend on how successfully the technology supports clinical teams and improves healthcare delivery in practice.

For CureBay, the central challenge is to scale access while maintaining consistent clinical standards and reliable services across a growing network.

The ₹100 crore funding round gives the startup additional resources to pursue that goal, with expansion and technology development at the centre of its strategy.