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Clinics On Cloud Raises ₹120 Crore in Series A Funding from Model42 at a ₹600 Crore Valuation
Dubai-based healthcare investment platform Model42 backs eight years of bootstrapped growth, from the first Health ATM to a global microclinic network.
₹120 CrSeries A funding
₹600 CrValuation
3,500+Installations
12M+Health screenings
Quick answer: Clinics On Cloud, the Pune-based health-tech company behind India's Health ATMs, has raised ₹120 crore (US$12.5 million) in Series A funding from Model42, a Dubai-based healthcare investment platform, at a valuation of ₹600 crore. The round follows eight years of self-funded growth and will pay for global expansion led by the UAE, AI-driven diagnostics and a global microclinic network.
Who invested in Clinics On Cloud?
The round comes from Model42, a Dubai-based healthcare investment platform that brings together strategic investment, healthcare expertise and international market access for healthcare businesses. Model42 was co-founded by Timur Kudratov of Enlightened Minds Investments, Dr. Aida Sheikhaliyeva and Dr. Raees Tonse, Founder and CEO of NAZR Ventures.
The investment was signed at Model42's private investor dinner, where the signing screen read "Model42 invests US$12.5 million in Clinics On Cloud".
How did Clinics On Cloud get here?
Abhay Agarwal and Manashrri Agarwal founded Clinics On Cloud in Pune in 2018 to make preventive healthcare as easy to reach as a cash machine. The company began with the Health ATM and grew, without outside capital, into a family of point-of-care formats used by governments, hospitals, defence establishments and corporate organisations.
- 3,500+ installations of its health screening systems
- More than 12 million health screenings delivered
- A presence in more than eight countries
- Formats: Health ATMs, AI-enabled Health Lounges, Box Clinics and Mobile Medical Units, combining diagnostics, digital health, AI-powered health insights and telemedicine
What will the ₹120 crore be used for?
- Global expansion led by the UAE, with Africa, the United States and Southeast Asia next
- AI-driven diagnostics and research and development
- International regulatory compliance for new markets
- Manufacturing scale-up of its Made-in-India devices
- A global microclinic network, the infrastructure layer for preventive care at the point of need
What did the founder say?
Abhay Agarwal, Founder and CEO, said the company started eight years ago with one idea: "Quality healthcare should never depend on someone's PIN code." With this round, the goal is to build the infrastructure layer for the global microclinic economy, from India to the world.
