Healthtech firm CureBay has closed a pre-Series C funding round of approximately ₹100 crore, or $10.6 million, according to Inc42. The transaction includes over ₹69 crore in equity led by IvyCap Ventures, with participation from previous backers, and roughly ₹30 crore in debt from Trifecta Capital, Alteria Capital, and VentureSoul Partners. The company intends to deploy this capital to broaden its geographic footprint, reinforce its delivery infrastructure, and advance its technology and artificial intelligence capabilities.
Currently active in Odisha, Chhattisgarh, Jharkhand, and Bihar, CureBay aims to enter Telangana and Andhra Pradesh next. The startup plans to grow its physical clinic presence from 250 to 800 sites within the next two to three years. Its model links patients in underserved regions with providers through a mix of local clinics, community health workers, and a digital platform connecting users to doctors, hospitals, labs, and pharmacies.
The firm is investing in graphics processing units to train AI models for patient screening and risk assessment. Existing algorithmic tools address skin ailments, dental issues, and haemoglobin levels, with further additions planned. CureBay also offers Kavach, a subscription service that bundles consultations, medicine support, diagnostics, and specific hospitalisation costs to promote preventive care. The company states it has reached over 12 lakh patients, linking 270 doctors and 1,000 other healthcare staff across 4,500 postal codes.
Cofounder and CEO Priyadarshi Mohapatra told Inc42 that the company ended fiscal year 2026 with annual recurring revenue near ₹170 crore. "It aims to double this figure by the end of FY27," the report noted. Mohapatra indicated that operating EBITDA turned positive in FY26, with a current monthly run rate of about ₹20 crore. He attributed this growth to customers treating CureBay as a trusted partner, combined with market expansion.
Despite the EBITDA break-even, the startup still operates at a net loss due to costs associated with entering new regions. Mohapatra suggested that net profitability will arrive once expansion stabilizes. "However, the startup remains loss-making at the company level," Inc42 observed. Before this round, the firm had secured over $34.6 million from Bertelsmann India Investments, British International Investment, and Elevar Equity.