Business · Companies · 2 hrs ago
CureBay Raises About ₹100 Crore to Expand Rural Clinics and AI Screening
CureBay raised about ₹100 crore in a funding round led by IvyCap Ventures, with additional debt from three lenders.
The Indian healthtech startup connects people in underserved areas with doctors, hospitals, diagnostic labs and pharmacies through clinics, health workers and a digital platform.
It plans to expand beyond four eastern Indian states into Telangana and Andhra Pradesh.
CureBay aims to grow from 250 rural clinics to 800 over the next two to three years, while investing in AI tools that screen for conditions including skin and dental problems.
The expansion is intended to improve access to healthcare in areas with fewer services.
The company says it ended FY26 with nearly ₹170 crore in annual recurring revenue and aims to double that by the end of FY27; it also reported operating EBITDA break-even, but remains loss-making overall.
Its next steps are to expand its network and pursue growth, while the company says reaching a stable operating scale would be needed for company-level profitability.
CureBay raised around ₹100 crore in a pre-Series C funding round to expand its rural clinic network and invest in technology and AI.
The round included over ₹69 crore in equity led by IvyCap Ventures and around ₹30 crore in debt from three lenders.
The healthtech startup plans to enter Telangana and Andhra Pradesh and grow its rural clinics from 250 to 800 over two to three years.
CureBay reported annual recurring revenue of nearly ₹170 crore for FY26 and aims to double it in FY27.
It said it reached operating EBITDA break-even in FY26 but remains loss-making at the company level.
- Who
- CureBay, a healthtech startup co-founded by CEO Priyadarshi Mohapatra.
- What
- It raised around ₹100 crore in a pre-Series C round. It plans to expand its clinics and invest in technology and AI.
- When
- The funding was reported on October 22, 2026.
- Where
- CureBay operates in Odisha, Chhattisgarh, Jharkhand and Bihar, and plans to enter Telangana and Andhra Pradesh.
- Why
- To expand geographically, strengthen its delivery network and build its technology and AI capabilities.
This story does not have two clearly opposing sides.
CureBay said it closed the fiscal year with annual recurring revenue of nearly ₹170 crore and reached operating EBITDA break-even.
CureBay aims to double its FY26 annual recurring revenue.
CureBay plans to grow its rural clinic network from 250 to 800.
- Total funding
- Around ₹100 crore
- Equity funding
- Over ₹69 crore, led by IvyCap Ventures
- Debt funding
- Around ₹30 crore from Trifecta Capital, Alteria Capital and VentureSoul Partners
- Existing clinic network
- 250 rural clinics
- Planned clinic network
- 800 clinics over two to three years
- FY26 ARR
- Nearly ₹170 crore
What people are saying
We have a full suite of AI products for areas like skin, dental, and haemoglobin. We will keep adding more products and continue investing in width as well as depth
We broke even at an operating EBITDA level in FY26. Currently, our monthly run rate is about ₹20 Cr, and we expect the number to grow almost 50% from now till March
When we stop expanding and we reach a stable state, we will be net positive at a company level. So the important metric for us to track is operating EBITDA