CureBay secures about ₹100 Cr in a pre-Series C round headed by IvyCap
The Bhubaneswar-based rural healthtech startup plans to grow its clinic network from over 250 to 800.
The 30-second read
- CureBay raised about ₹100 Cr in a pre-Series C round led by IvyCap Ventures.
- The round has ₹69 Cr in equity and more than ₹30 Cr in debt.
- The startup wants 800 clinics in two to three years, up from over 250.
Rural healthtech startup CureBay has raised about ₹100 Cr in a pre-Series C round led by IvyCap Ventures, according to CNBCTV18, Indian Startup News and The Times of India. Of this, ₹69 Cr is equity from IvyCap and existing investors. The rest, more than ₹30 Cr, is debt from Trifecta Capital, Alteria Capital and VentureSoul Partners.
CureBay was founded in 2021, first reported by Indian Startup News, by Priyadarshi Mohapatra, Shobhan Mahapatra and Sanjay Swain. Mohapatra is founder and CEO. His words: "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," and IvyCap Ventures founder and managing partner Vikram Gupta was also quoted. The money will go towards expansion, a stronger delivery network and technology and AI work.
CureBay now runs more than 250 clinics in seven states. First reported by CNBCTV18, it plans to reach 800 clinics within the coming two to three years, concentrating on UP, Telangana and Andhra Pradesh. CNBCTV18 also reported FY26 annual recurring revenue of about ₹170 Cr, and a goal of twice that figure by the close of FY27. CureBay has also been named healthcare partner for Samriddhi Kendra.
The last round was a $21 million Series B in May 2025, led by Bertelsmann India Investments. Before this round, reports said the startup had raised more than $34.6 million in total.
Why it matters
Primary care is hard to find in small towns and villages. This round funds a plan to take clinics to more rural and underserved parts of India, including a government-linked tie-up.
The data
| Part | Amount | Source |
|---|---|---|
| Equity | ₹69 Cr | IvyCap Ventures and existing investors |
| Debt | More than ₹30 Cr | Trifecta Capital, Alteria Capital, VentureSoul Partners |
| Total | About ₹100 Cr | Led by IvyCap Ventures |