Bhubaneswar-based CureBay, a hybrid digital and physical rural healthcare services platform, has raised ₹100 crore in a Pre-Series C funding round led by IvyCap Ventures.
The round comprises ₹69 crore in equity, led by IvyCap Ventures along with other existing investors, and over ₹30 crore in debt from Trifecta Capital, Alteria Capital and VentureSoul Partners.
Launched in 2021, CureBay has built what it describes as India’s first six-layer integrated Rural Healthcare Operating System. It comprises IoT-enabled clinics, a Swasthya Mitra network, a connected digital platform, AI-powered screening and risk alerts, a 24/7 command centre, and CureBay Kavach, an annual health membership offering preventive healthcare and financial protection for ₹499.
The platform operates through more than 250 technology-enabled clinics across seven states. Its network includes over 1,800 Swasthya Mitras, more than 530 trained clinical staff, over 230 doctor partners, and over 210 partner hospitals and laboratories.
CureBay offers a range of services, including doctor consultations, medication delivery, diagnostic tests, surgery facilitation, annual health memberships and a concierge service that supports patients throughout their healthcare journey, from admission to discharge. Through its proprietary platform, the company connects patients with affordable healthcare services, irrespective of their location, income or insurance status.
Expanding its rural healthcare network
The fresh capital will support CureBay’s expansion across India and strengthen its healthcare delivery network. It will also help deepen the company’s proprietary technology and AI capabilities, including its Intelligence Layer, to improve screening, health insights and clinical decision-making across the care journey. The company plans to enter new markets, including Andhra Pradesh.
“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,” said Priyadarshi Mohapatra, Founder and CEO of CureBay.
CureBay recently announced its entry into Bihar with the launch of its first technology-enabled clinic in Begusarai. It is also strengthening its presence in Jharkhand through Berlin Diagnostics & Daycare.
The company works with the government on healthcare delivery initiatives and has been named the healthcare partner for Samriddhi Kendra, a Central government initiative aimed at establishing integrated phygital (physical and digital) service centres across rural India.