Clinics On Cloud Raises Rs 120 Crore in Series A From Model42
Pune-based Health ATM maker raises funding from Dubai-based Model42 after eight bootstrapped years.
Key Takeaways
- Clinics On Cloud raised Rs 120 crore in a Series A round.
- Model42, a Dubai-based healthcare investment platform, is the investor.
- The Pune-based company was founded in 2018 and was bootstrapped for eight years.
- The company makes Health ATM kiosks for preventive health check-ups.
- It said it will begin its international expansion with the UAE.
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Clinics On Cloud, a Pune-based healthtech company that makes Health ATM kiosks, has raised Rs 120 crore in a Series A round. The investor is Model42, a Dubai-based healthcare investment platform.
Clinics On Cloud was founded in 2018 and grew without outside capital for eight years before this round.
Clinics On Cloud funding at a glance
| Detail | Clinics On Cloud |
|---|---|
| Amount | Rs 120 crore |
| Round | Series A |
| Investor | Model42, a Dubai-based healthcare investment platform |
| Valuation | Rs 600 crore |
| Sector | Healthtech |
| City | Pune |
What Clinics On Cloud's Health ATMs do
Clinics On Cloud makes Health ATMs, which are kiosks for preventive health check-ups.
It also offers Health Lounges, Box Clinics and Mobile Medical Units. Its customers include hospitals, corporates, government organisations and defence establishments.
How Clinics On Cloud went from 2018 to a Series A
| When | Milestone |
|---|---|
| 2018 | Abhay Agarwal and Manashrri Agarwal found Clinics On Cloud |
| 2018 to 2026 | The company runs without outside funding |
| 2026 | It raises a Rs 120 crore Series A from Model42 |
What Clinics On Cloud says it will do with the Series A money
Clinics On Cloud said it will use the funds to strengthen its AI-led healthcare capabilities, expand research and development and grow its connected microclinic network. The company said it will also begin its international expansion with the UAE and explore opportunities in Africa, the United States and Southeast Asia.
Where Clinics On Cloud stands after its Series A
The company says it has more than 3,500 deployments and has carried out more than 12 million health screenings. It says its devices are used in more than eight countries.
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