Rural healthcare technology company CureBay has raised around Rs 100 crore in a pre-Series C funding round to expand its healthcare delivery network across India and deepen investments in artificial intelligence (AI) and proprietary technology.
The round comprises Rs 69 crore in equity led by IvyCap Ventures and over Rs 30 crore in debt from Trifecta Capital, Alteria Capital and VentureSoul Partners. The fresh capital will support the Bhubaneswar-headquartered company’s expansion into new markets, including Andhra Pradesh, and strengthen its technology-enabled clinic network for screening, health risk assessment and clinical decision-making.
Founded in 2021, CureBay has developed India’s first integrated rural healthcare operating system, combining physical healthcare infrastructure with digital technology and a community-based network to address gaps in access to medical services in underserved areas.
The company currently operates more than 250 technology-enabled clinics across seven states, supported by a network of over 1,800 Swasthya Mitras, more than 530 trained clinical staff and over 230 doctor partners. Its network also includes more than 210 partner hospitals and laboratories.
“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 helps 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 chief executive officer of CureBay.
The company’s operating model comprises six interconnected layers — Internet of Things (IoT)-enabled clinics, a network of Swasthya Mitras who facilitate access to healthcare at the community level, a connected digital platform, AI-powered screening and risk alerts, a 24-hour command centre and CureBay Kavach. These components have been designed to coordinate preventive healthcare, early identification of health risks, clinical consultations and referrals within a single delivery system.
The funding comes as CureBay plans to scale this model beyond its existing markets while deepening the technology underpinning its operations. It will strengthen its proprietary intelligence layer, which uses AI to improve the identification of health risks, screening, generation of health insights and facilitation of more informed clinical decisions.
The company’s approach has also attracted interest from institutional investors looking at technology-enabled models for improving access to essential services beyond major urban centres.
“CureBay’s ability to combine technology with a strong on-ground healthcare network makes its model particularly compelling. As India works towards expanding access to quality healthcare across Bharat, we see significant potential in the company’s approach,” said Vikram Gupta, founder and managing partner of IvyCap Ventures.
CureBay also works with the government on healthcare delivery initiatives and has been named the healthcare partner for Samriddhi Kendra, a Government of India initiative. It has served over 17 lakh patients and conducts more than 400 health camps every month.
