Bhubaneswar-based rural healthcare startup CureBay has raised about Rs 100 crore in a mix of equity and debt as it prepares to expand its clinic network into more states. The funding round was led by IvyCap Ventures.
The round includes Rs 69 crore in equity from IvyCap Ventures and existing investors, while more than Rs 30 crore has come through debt from Trifecta Capital, Alteria Capital and VentureSoul Partners.
CureBay plans to use the capital to expand its healthcare delivery network, enter new markets including Andhra Pradesh and increase spending on technology and artificial intelligence. The company is also working on an internal technology layer for patient screening, health insights and clinical decision support.
CureBay Clinic Network
CureBay currently operates more than 250 technology-enabled clinics across seven states, including Odisha, Chhattisgarh, Jharkhand and Bihar. The company has expanded its physical network considerably since its early operations in Odisha.
In January 2023, CureBay had 17 e-clinics across districts in Odisha. By May 2025, when it raised its Series B round, the network had grown to more than 150 eClinics across Odisha and Chhattisgarh.
Healthcare network is supported by more than 1,800 Swasthya Mitras, 530 trained clinical staff, 230 doctor partners and more than 210 hospitals and laboratories. CureBay says it has served over 17 lakh patients and conducts more than 400 health camps every month.
Rural Healthcare Technology
Rural healthcare company combines physical clinics with a network of community health workers and digital services. Patients can access doctor consultations, including video consultations, medicines, diagnostic tests and assistance for surgeries through its network.
CureBay also offers annual health memberships through its Kavach programme. The subscription is designed around preventive care and provides support for consultations, medicines, diagnostics and certain hospitalisation-related expenses.
On the technology side, CureBay is investing in GPUs and developing its own AI models. Its existing AI tools are being used for areas such as skin conditions, dental health and haemoglobin screening.
CureBay Builds AI Layer
The startup describes its operating model as a six-layer system combining IoT-enabled clinics, the Swasthya Mitra network, a digital platform, AI-based screening and risk alerts, a round-the-clock command centre and the Kavach membership programme.
Founder and CEO Priyadarshi Mohapatra said the new capital would help the company expand the model to more states. “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,” he said.
Mohapatra added that the company planned to use AI for screening and other healthcare processes while expanding access to medical services closer to rural patients.
IvyCap Ventures founder and managing partner Vikram Gupta said the combination of technology and an on-ground healthcare network was a key factor in the investment. “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,” Gupta said.
CureBay Works With Govt
CureBay also works with government programmes in rural healthcare. It has been named the healthcare partner for Samriddhi Kendra, a Department of Telecommunications initiative that uses BharatNet connectivity to provide multiple services through rural centres.
First Samriddhi Kendra opened in March 2026 at Umri village in Madhya Pradesh. The centre provides telemedicine consultations and diagnostics through a Health ATM, along with services related to education, agriculture and finance.
Latest funding follows several earlier rounds. CureBay was started in 2021 by Priyadarshi Mohapatra, Shobhan Mahapatra and Sanjay Swain, initially with about $1.5 million from angel investors.
What CureBay Does
CureBay is a rural healthcare startup founded in 2021 to provide primary healthcare services in smaller towns and villages. The Bhubaneswar-based company combines physical clinics with digital healthcare, community health workers, doctors, diagnostic providers and hospitals.
Startup raised its Series A in November 2022, followed by a Rs 61.8 crore Series A1 extension in January 2024, led by Elevar Equity. In May 2025, CureBay raised $21 million in a Series B round led by Bertelsmann India Investments, with Elevar Equity and British International Investment also participating.
Before the latest round, CureBay had raised more than $34.6 million from investors, according to reports. The new Rs 100 crore round now gives the company additional capital to expand its rural healthcare network and technology operations as it moves into more states.
