CureBay | ~₹100 Cr (~$10.6M Pre-Series C)

CureBay, a rural healthcare company that runs tech-enabled clinics, has raised about ₹100 crore (about $10.6 million) in a Pre-Series C round led by IvyCap Ventures. The company says it will use the funds to enter new states, grow its rural clinic network and invest in AI.

The round

CureBay raised about ₹100 crore, roughly $10.6 million, in a Pre-Series C round, Inc42 reported on 22 October 2026. The round has over ₹69 crore in equity, led by IvyCap Ventures with existing investors participating, and about ₹30 crore in debt from Trifecta Capital, Alteria Capital and VentureSoul Partners.

Before this round, CureBay had raised over $34.6 million from investors including Bertelsmann India Investments, British International Investment and Elevar Equity, Inc42 says. The money is earmarked for geographic expansion, strengthening its delivery network, and technology and AI, including GPUs to train its own screening and health-risk models.

What CureBay does

CureBay connects people in underserved areas with doctors, medicines, diagnostics and hospital care through clinics and a digital platform. Priyadarshi Mohapatra is co-founder and CEO. It operates in Odisha, Chhattisgarh, Jharkhand and Bihar and plans to enter Telangana and Andhra Pradesh. It aims to grow its rural clinics from 250 to 800 over the next two to three years.

The company runs Kavach, a subscription programme for preventive care that supports consultations, medicines, diagnostics and certain hospitalisation costs. Its AI products cover skin conditions, dental health and haemoglobin screening, with more planned. Mohapatra told Inc42.

The company reports nearly ₹170 crore in annualised recurring revenue at the end of FY26, with a target to double it by the end of FY27, and says it reached operating EBITDA breakeven in FY26. It remains loss-making at the company level, and audited FY26 financials have not yet been filed, Inc42 notes. It claims more than 12 lakh patients served, with 270-plus doctors and more than 1,000 healthcare professionals connected across 4,500 pincodes.

The investors

IvyCap Ventures led the equity portion and also led a ₹130 crore round in social-intelligence startup live2.ai reported the same week. Trifecta Capital, Alteria Capital and VentureSoul Partners provided the debt component.

Why it matters

CureBay's case is that clinics staffed locally and supported by AI screening can make rural care both accessible and financially sustainable. Its reported breakeven at the operating level, alongside continued company-level losses, shows how far that case has progressed. The funding supports a plan to roughly triple the clinic network. Related coverage: HealthTech funding news.