CureBay, an Indian company that runs technology-enabled clinics in rural areas, has raised about ₹100 crore (about $11m) in what it called a pre-Series C round. The company announced the funding on 22 October 2026.
The round combined equity and debt. About ₹69 crore (about $7.3m) came as equity, led by IvyCap Ventures with participation from existing investors. More than ₹30 crore (about $3.2m) came as venture debt from Trifecta Capital, Alteria Capital and VentureSoul Partners, according to the company's release. Entrackr reported the same split, while Inc42 and Viestories described the equity as more than ₹69 crore and the debt as about ₹30 crore. Inc42 put the total at about $10.6m.
CureBay did not disclose a valuation, and none of the reports named the existing investors that joined the equity portion.
“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.”Priyadarshi Mohapatra, Founder and CEO, CureBay
What CureBay does
CureBay was founded in 2021 by Priyadarshi Mohapatra, its chief executive, with Shobhan Mahapatra and Sanjay Swain, according to Entrackr and Viestories. It calls itself a rural healthcare operating system: its clinics offer doctor consultations, medicines, diagnostics, help arranging surgery and an annual health membership called CureBay Kavach. Inc42 reported that Kavach covers consultations, medicine and diagnostic support and some hospitalisation costs.
The model has six parts, the company said: clinics fitted with connected devices, a network of community health workers it calls Swasthya Mitras, a digital platform, AI-based screening and risk alerts, a command centre that runs around the clock, and the Kavach membership.
According to the release, CureBay has more than 250 clinics across seven states, over 1,800 Swasthya Mitras, more than 530 trained clinical staff and over 230 partner doctors. It works with more than 210 hospitals and laboratories, has served more than 17 lakh (1.7 million) patients and runs over 400 health camps a month. Inc42 gave somewhat different figures, citing more than 12 lakh patients and 270 doctors, and said the company operates in Odisha, Chhattisgarh, Jharkhand and Bihar. The company is also the healthcare partner for Samriddhi Kendra, a Government of India initiative.
What the money is for
CureBay said it will use the money to expand across India, starting with new markets such as Andhra Pradesh, and to strengthen its delivery network. Inc42 reported that Telangana is also on the list, and that the company plans to grow from about 250 clinics to 800 over the next two to three years.
Part of the money will go into the company's own technology, including what it calls its Intelligence Layer, which supports screening, health insights and clinical decisions. Mohapatra told Inc42 that CureBay already has AI tools for skin, dental and haemoglobin screening, and the publication reported that the company is investing in GPUs and in training further models.
Mohapatra said in the release that the capital would let the company take its system to more states. Vikram Gupta, founder and managing partner of IvyCap Ventures, said CureBay's mix of technology and an on-ground network made its model compelling.
The funding so far
Before this round CureBay had raised more than $34.6m from Bertelsmann India Investments, British International Investment and Elevar Equity, according to Inc42 and Viestories. Its largest earlier round was a $21m Series B in May 2025 led by Bertelsmann India Investments, with Elevar Equity and British International Investment taking part, Entrackr and Viestories reported.
Inc42 and Viestories reported that the company ended the 2025-26 financial year with annual recurring revenue of nearly ₹170 crore (about $18m) and aims to double it by the end of the following year. The reports said CureBay reached break-even on operating EBITDA in that year, with a monthly revenue run rate of about ₹20 crore, but remains loss-making overall because of the cost of entering new markets.
The company has not disclosed its headcount beyond the clinical staff and health-worker figures in its release.
Company website: curebay.com