Clinics On Cloud Raises Rs 120 Crore in Series A From Model42
The Pune-based Health ATM maker raised its Series A from Dubai-based Model42 at a Rs 600 crore valuation.
Key Takeaways
- Clinics On Cloud raised Rs 120 crore in a Series A round
- The round values the company at Rs 600 crore
- Dubai-based healthcare investment platform Model42 backed the round
- The company said it grew for eight years on self-funded money before this round
- It said the money will fund expansion led by the UAE, AI diagnostics and manufacturing
Clinics On Cloud, a Pune-based healthtech company that builds Health ATMs, has raised Rs 120 crore in a Series A round at a valuation of Rs 600 crore. The round was backed by Model42, a Dubai-based healthcare investment platform.
The company was founded in 2018 and said it grew for eight years on its own money before this round. It said the new funds will go towards expansion led by the UAE, along with AI-driven diagnostics, research and development, and manufacturing.
Clinics On Cloud funding at a glance
| Detail | Clinics On Cloud |
|---|---|
| Amount raised | Rs 120 crore |
| Round | Series A |
| Valuation | Rs 600 crore |
| Investor | Model42, a Dubai-based healthcare investment platform |
| Sector | Healthtech |
| City | Pune |
| Use of funds (as stated by the company) | Global expansion led by the UAE, AI-driven diagnostics, R&D, international regulatory compliance, manufacturing scale-up and a global microclinic network |
What Clinics On Cloud does
Clinics On Cloud makes healthcare infrastructure that takes preventive screening and primary care outside traditional hospitals and diagnostic centres. It said it started with Health ATMs and now also builds AI-enabled Health Lounges, Box Clinics and Mobile Medical Units.
These products combine medical diagnostics, AI-powered health insights, digital health technology and telemedicine. The company said governments, hospitals, defence establishments and large corporate organisations use them to set up connected healthcare facilities.
Clinics On Cloud's journey so far
| When | Milestone |
|---|---|
| 2018 | Abhay Agarwal and Manashrri Agarwal found Clinics On Cloud |
| By October 2026 | Eight years of self-funded growth, with 3,500+ installations, 12 million+ health screenings and a presence in 8+ countries, as reported by the company |
| October 2026 | Rs 120 crore Series A at a Rs 600 crore valuation, backed by Model42 |
Who is behind Model42
According to the announcement, 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 platform brings together strategic investment, healthcare expertise and international market access to support healthcare businesses.
Abhay Agarwal on making preventive care as easy as an ATM
"Quality healthcare should never depend on someone's PIN code. We started eight years ago with a vision to make preventive healthcare as accessible as an ATM. Today, this investment marks a defining milestone in our journey and an opportunity to take Indian healthcare innovation to the world. Our ambition is to build the infrastructure layer for the global microclinic economy."
What Clinics On Cloud says it will do with the money
The company said the investment will accelerate global expansion led by the UAE, with a focus on Africa, the United States and Southeast Asia. It also said the money will support AI-driven diagnostics, research and development, international regulatory compliance, manufacturing scale-up and the development of a global microclinic network.
Where Clinics On Cloud stands after the Series A
Clinics On Cloud has reached 3,500+ installations and 12 million+ health screenings across 8+ countries, according to the company. Its customers include governments, hospitals, defence establishments and corporate organisations, and the company said the Model42 investment will take it into new markets starting with the UAE.
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