CureBay raises ₹100 Cr in pre-Series C round led by IvyCap Ventures

Funding breakdown and investors

CureBay has raised ₹100 Cr ($10.6 Mn) in a pre-Series C funding round. The round comprised ₹69 Cr in equity led by IvyCap Ventures, alongside existing investors. Debt funding of over ₹30 Cr was secured from Trifecta Capital, Alteria Capital, and VentureSoul Partners.

This funding follows a $21 Mn Series B round in May 2025, which was led by Bertelsmann India Investments. Other prior investors include British International Investment and Elevar Equity.

Expansion plans and AI focus

The funds will be used to expand CureBay’s rural clinic network from 250 to 800 over the next two to three years. The startup currently operates in Odisha, Chhattisgarh, Jharkhand, and Bihar, with plans to enter Telangana and Andhra Pradesh.

CureBay aims to strengthen its AI and technology capabilities, including expanding its existing AI-assisted screening tools. These tools currently cover skin conditions, dental health, and haemoglobin screening, with plans to add more use cases.

The startup’s AI-driven platform, referred to as the "Intelligence Layer," supports patient screening, health insights, and clinical decision-making. CureBay is investing in GPUs and training AI models to assess health risks and improve patient care.

Business model and financials

CureBay connects patients in underserved areas with healthcare providers through a network of rural clinics, local community health workers (Swasthya Mitras), and a digital platform. The startup conducts over 400 health camps monthly and has served over 1.7 million patients across 4,500 pincodes.

The company offers "Kavach," a subscription programme designed to encourage preventive care. Kavach provides consultations, medicines, diagnostics, and coverage for certain hospitalisation-related costs.

CureBay reported an annual recurring revenue (ARR) of nearly ₹170 Cr for FY26 and aims to double it to ₹340 Cr by FY27. The startup achieved operating EBITDA profitability in FY26 but remains loss-making at the company level due to expansion costs.

Founder perspective on rural healthcare

Priyadarshi Mohapatra, Co-founder and CEO of CureBay, said that rural India does not need another app but a system that works end to end—from a Swasthya Mitra at the doorstep to a specialist in the city.

Vikram Gupta, Founder and Managing Partner of IvyCap Ventures, emphasised that CureBay’s combination of technology and on-ground healthcare makes its model compelling for scaling rural healthcare access.

What this means

Lazyfounder analysis — our interpretation, not reported fact.

CureBay’s pre-Series C funding signals growing investor confidence in healthtech models that target rural and underserved markets. The mix of equity and debt funding reflects a strategic approach to balance growth and sustainability. For founders and operators, this deal highlights the potential of AI-driven screening and preventive care models in India’s rural healthcare sector, where infrastructure gaps create both challenges and opportunities. The focus on scaling clinics and AI capabilities suggests a playbook for startups aiming to bridge healthcare access disparities, particularly in states with limited medical infrastructure.

Key takeaways

• CureBay’s funding underscores the viability of rural-focused healthtech models, particularly those combining physical clinics with AI-driven diagnostics.
• The use of debt alongside equity funding may indicate a maturing startup balancing growth with financial prudence.
• Expansion into Telangana and Andhra Pradesh reflects strategic targeting of states with significant rural healthcare gaps.
• AI-driven screening tools are becoming a key differentiator in healthtech, especially in underserved regions where preventive care is limited.

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