CureBay, a rural healthtech startup focused on underserved communities, has raised approximately ₹100 crore (US$10.6 million) in a Pre-Series C funding round. The round includes about ₹69 crore in equity led by IvyCap Ventures and roughly ₹30 crore in debt from Trifecta Capital, Alteria Capital, and VentureSoul Partners. The company will use the capital to expand geographically, strengthen its delivery network, and invest in artificial intelligence and technology capabilities.
Funding Structure and Investor Participation
The equity portion of the funding was led by IvyCap Ventures, with participation from existing investors including Elevar Equity and Bertelsmann India Investments. Debt financing came from Trifecta Capital, Alteria Capital, and VentureSoul Partners, adding approximately ₹30 crore to the round. Before this transaction, CureBay had raised over US$34.6 million from backers such as Bertelsmann India Investments, British International Investment, and Elevar Equity.
Geographic Expansion Plans
CureBay currently operates in Odisha, Chhattisgarh, Jharkhand, and Bihar and plans to enter Telangana and Andhra Pradesh next. The startup aims to grow its network of rural clinics from 250 to 800 over the next two to three years. This expansion is central to its mission of connecting patients in underserved areas with doctors, hospitals, diagnostic laboratories, and pharmacies.
Investment in AI and Technology
Alongside geographic growth, CureBay is investing in graphics processing units and training AI models to screen patients and assess health risks. Its current AI products cover skin conditions, dental health, and hemoglobin screening, with more products planned in both width and depth. The startup uses a digital platform and AI-assisted screening to support care coordination and improve clinical decision making.
Business Model and Financial Performance
CureBay also operates Kavach, a subscription program that encourages preventive care through consultations and support for medicines, diagnostics, and certain hospitalization-related costs. The company closed fiscal year 2026 with an annual recurring revenue of nearly ₹170 crore and a monthly run rate of about ₹20 crore. It broke even at the operating EBITDA level in FY26 but remains loss-making at the company level due to market entry expenses.
Leadership Perspective and Growth Outlook
Priyadarshi Mohapatra, cofounder and chief executive officer of CureBay, said the funding came amid strong investor interest and reflects rising customer trust in the platform. He expects the monthly run rate to grow by almost 50% between now and March and aims to double annual recurring revenue by the end of FY27. Mohapatra added that net profitability will follow once the company reaches a more stable operating scale after its expansion phase.
Partnerships and Community Health Outreach
CureBay operates more than 250 clinics across seven states with support from over 1,800 Swasthya Mitras and 530 trained clinical staff. The network also includes 230 doctor partners and more than 210 partner hospitals and laboratories. The startup conducts over 400 health camps every month and has been named the healthcare partner for Samriddhi Kendra, a Government of India initiative.
The new capital strengthens CureBay's ability to scale its hybrid care model across more states while advancing its AI-powered screening tools. The startup remains focused on operating EBITDA as its key performance metric, with company-level profitability expected after the current expansion phase stabilizes. By combining physical clinics, community health workers, and digital technology, CureBay is positioned to make essential healthcare more accessible in rural India.
Source: Inc24