CureBay Raises Rs 100 Crore to Expand Its Rural Clinics
IvyCap Ventures leads the pre-Series C round, which mixes Rs 69 crore of equity with more than Rs 30 crore of debt
Key Takeaways
- CureBay raised about Rs 100 crore in a pre-Series C round led by IvyCap Ventures.
- The round is Rs 69 crore of equity plus more than Rs 30 crore of debt from Trifecta Capital, Alteria Capital and VentureSoul Partners.
- CureBay runs 250+ tech-enabled clinics across seven states and has served more than 17 lakh patients.
- The money goes into new states, including Andhra Pradesh, and better AI health screening.
CureBay, a healthtech startup that brings clinics to villages and small towns, has raised about Rs 100 crore in a pre-Series C round led by IvyCap Ventures.
The money comes in two parts. Rs 69 crore is equity from IvyCap Ventures and existing investors, and more than Rs 30 crore is debt from Trifecta Capital, Alteria Capital and VentureSoul Partners.
CureBay funding at a glance
| Detail | CureBay pre-Series C |
|---|---|
| Total raised | About Rs 100 crore |
| Equity | Rs 69 crore, led by IvyCap Ventures, with existing investors |
| Debt | More than Rs 30 crore from Trifecta Capital, Alteria Capital and VentureSoul Partners |
| Sector | Rural healthtech |
| Use of funds | New states, starting with Andhra Pradesh, and better AI health screening |
What CureBay does
Most of India's good doctors work in cities, while a large share of patients live far away from them. CureBay tries to close that gap with a chain of tech-enabled clinics in rural and underserved areas.
At a CureBay clinic, a patient can consult a doctor, buy medicines, get diagnostic tests done and get help arranging surgery at a bigger hospital when needed. Instead of travelling to a city for every step, much of the care happens close to home, with technology connecting the patient to the right doctor.
Today the company runs more than 250 clinics across seven states and says it has served over 17 lakh patients.
CureBay's journey so far
| When | Milestone |
|---|---|
| 2021 | Founded by Priyadarshi Mohapatra, Shobhan Mahapatra and Sanjay Swain |
| November 2022 | Series A of about Rs 50 crore, led by Elevar Equity |
| January 2024 | Series A1 of about Rs 62 crore, led by existing investor Elevar Equity |
| May 2025 | $21 million Series B led by Bertelsmann India Investments |
| October 2026 | About Rs 100 crore pre-Series C led by IvyCap Ventures |
What the founder and investor said
"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. 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."
"We are excited to partner with CureBay as it scales its reach and continues to make quality healthcare more accessible to underserved communities across the country."
Where the money will go
CureBay will use the funds to take its clinics into new states, with Andhra Pradesh named as the first, and to improve the AI it uses to screen patients and flag health risks early.
Why this deal matters
Healthtech funding in India has mostly gone to apps built for city users. CureBay is a bet on the opposite end of the market: physical clinics in places where good care is hardest to find, made efficient with technology.
The mix of equity and debt is also worth noting. Lenders putting in more than Rs 30 crore suggests they see a business with steady, repeatable operations, not just a growth story.
What to watch next
The key test is whether CureBay can repeat its model in new states, starting with Andhra Pradesh, while keeping clinics well staffed and affordable for rural families.
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Frequently Asked Questions
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