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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.

Jhanvi Shah Oct 28, 2026, 10:18 AM IST 3 min read

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."
Abhay Agarwal, Founder and CEO, Clinics On Cloud

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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Frequently Asked Questions

How much did Clinics On Cloud raise?

Clinics On Cloud raised Rs 120 crore in a Series A round.

Who invested in Clinics On Cloud's Series A?

Clinics On Cloud's Series A was backed by Model42, a Dubai-based healthcare investment platform.

What is Clinics On Cloud's valuation after the round?

Clinics On Cloud was valued at Rs 600 crore in the Series A round.

What does Clinics On Cloud do?

Clinics On Cloud says it builds Health ATMs, AI-enabled Health Lounges, Box Clinics and Mobile Medical Units that bring preventive screening and primary care outside traditional hospitals.

Who founded Clinics On Cloud?

Clinics On Cloud was founded in 2018 by Abhay Agarwal and Manashrri Agarwal.

Where is Clinics On Cloud based?

Clinics On Cloud is based in Pune, Maharashtra.

How will Clinics On Cloud use the funding?

Clinics On Cloud said it will use the funding for global expansion led by the UAE, AI-driven diagnostics, research and development, international regulatory compliance and manufacturing scale-up.

How did Clinics On Cloud grow before this round?

Clinics On Cloud said it grew through eight years of self-funded growth before the Series A.

How many installations does Clinics On Cloud report?

Clinics On Cloud reports 3,500+ installations and 12 million+ health screenings.

How many countries does Clinics On Cloud operate in?

Clinics On Cloud reports a presence in 8+ countries.

Which markets is Clinics On Cloud targeting for expansion?

Clinics On Cloud said its expansion will be led by the UAE, with a focus on Africa, the United States and Southeast Asia.

Who founded Model42, the investor in Clinics On Cloud?

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.