Curebay Secures Rs 100 Crore Funding Led by IvyCap Ventures to Expand Rural Healthcare Network

Curebay Funding Brings Rs 100 Crore to Scale Rural Healthcare

Healthtech startup Curebay has successfully closed a pre-Series C funding round worth Rs 100 crore ($10.6 million), led by IvyCap Ventures with strong participation from existing investors including Elevar Equity and Bertelsmann India Investments1

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. The funding comprises over Rs 69 crore in equity and approximately Rs 30 crore in debt from Trifecta Capital, Alteria Capital, and VentureSoul Partners2

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. This capital injection comes amid strong investor interest in the company's mission to bridge healthcare gaps in underserved areas across India.

Geographic Footprint Expansion Plans Target Southern States

Curebay cofounder and CEO Priyadarshi Mohapatra revealed that the company plans aggressive geographic footprint expansion into new territories1

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. Currently operating in Odisha, Chhattisgarh, Jharkhand, and Bihar, the healthtech startup aims to enter Telangana and Andhra Pradesh markets next2

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. The company's ambitious rural clinics network expansion targets growing from 250 clinics to 800 locations over the next two to three years2

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. This expansion strategy reflects the startup's commitment to reaching more patients in remote areas where healthcare access remains limited.

AI Capabilities Drive Preventive Healthcare Innovation

The fresh capital will significantly strengthen Curebay's AI capabilities and technology infrastructure1

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. The company is investing heavily in GPUs and training AI models to screen patients and assess health risks more effectively2

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. Curebay's AI screening offerings currently include a full suite of products covering skin conditions, dental health, and haemoglobin screening2

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. Mohapatra emphasized the company's commitment to expanding these capabilities: "We have a full suite of AI products for areas like skin, dental, and haemoglobin. We will keep adding more products and continue investing in width as well as depth"2

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Revenue Growth Signals Strong Market Traction

Curebay closed FY26 with an annual recurring revenue (ARR) of nearly Rs 170 crore and aims to double this figure by the end of FY272

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. The startup achieved operating EBITDA breakeven in FY26, with a current monthly run rate of approximately Rs 20 crore2

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. Mohapatra projects a 50% growth in this run rate by March2

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. The company has served over 12 lakh patients and connected more than 270 doctors and 1,000 healthcare professionals across 4,500 pincodes2

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. This growth stems from customers spending more on the platform as they increasingly view Curebay as a trusted healthcare partner2

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Integrated Care Model Addresses Rural Healthcare Challenges

Curebay connects patients in underserved areas with healthcare providers through a combination of rural clinics, local community health workers, and a digital platform linking patients to doctors, hospitals, diagnostic laboratories, and pharmacies2

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. The startup also runs Kavach, a subscription programme designed to encourage preventive care by offering consultations and support for medicines, diagnostics, and certain hospitalisation-related costs2

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. Prior to this pre-Series C funding round, Curebay had raised over $34.6 million from investors including Bertelsmann India Investments, British International Investment, and Elevar Equity2

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. While the company remains loss-making at the company level due to expansion costs, Mohapatra indicated that profitability would come once the startup reaches a more stable operating scale2

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