Originals · Startup · Startups & Fintech
Clinics On Cloud raises Rs 120 Cr Series A from Dubai's Model42 to take its AI-assisted Health ATMs abroad
The Pune healthtech company, bootstrapped for eight years, is valued at Rs 600 Cr and plans a UAE-led push into Africa, the US and Southeast Asia.
Clinics On Cloud, a Pune healthtech company that makes self-service health screening kiosks it calls Health ATMs, has raised Rs 120 crore in a Series A round at a valuation of Rs 600 crore, according to a company announcement dated October 26 and reports in DigitalHealthNews and FinSMEs. The round was backed by Model42, a Dubai-based healthcare investment platform. FinSMEs put the amount at about $14.26 million and the valuation at about $71.3 million, and The Economic Times, citing Tracxn data, listed the $14.3 million deal as the second largest Indian startup round of the last week of October.
Founded in 2018 by Abhay Agarwal and Manashrri Agarwal, the company had run on its own money until this round. It reports more than 3,500 installations, over 12 million health screenings and a presence in more than eight countries. FinSMEs adds that the installations span about 200 cities, that the screening products are licensed by CDSCO, India's central drug and medical device regulator, and that they capture more than 65 clinical parameters with AI-assisted diagnostics and a telemedicine link.
The product range has grown beyond the original Health ATMs to AI-enabled Health Lounges, Box Clinics and Mobile Medical Units. The company pitches them to governments, hospitals, defence establishments and corporate employers that want to offer screening and primary care in workplaces and remote locations without a full clinic. The founders say the goal is to build the infrastructure layer for what they call a global microclinic economy.
The money will go into international expansion led by the UAE, with Africa, the US and Southeast Asia as further targets, along with AI-driven diagnostics, research and development, international regulatory compliance and a manufacturing scale-up, which FinSMEs says is at the company's Chakan facility near Pune. Model42 was co-founded by Timur Kudratov of Enlightened Minds Investments, Dr Aida Sheikhaliyeva and Dr Raees Tonse, founder and CEO of NAZR Ventures. "Quality healthcare should never depend on someone's PIN code," Abhay Agarwal, founder and CEO, said in the announcement.
