Pune-based healthtech startup Clinics On Cloud has raised Rs 120 crore (about $12.5 million) in a Series A funding round from Dubai-based investors through Model42, a healthcare investment platform powered by Enlightened Minds Investments.
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The round values the startup at Rs 600 crore.
Clinics On Cloud makes Health ATMs, self-service kiosks that run preventive health check-ups, along with other formats for what it calls connected microclinics. The company announced the round last week.
Notably, it is the startup’s first institutional funding. Clinics On Cloud was founded in 2018 by Abhay Agarwal and Manashrri Agarwal and grew without outside capital for eight years before this round.
“For eight years, we have built Clinics On Cloud with a simple belief that quality healthcare should never depend on someone’s PIN code,” said Abhay Agarwal, Founder and CEO of Clinics On Cloud.
“This investment gives us the opportunity to take that vision global. Healthcare technology is advancing rapidly, but the real opportunity is making these innovations accessible to people, wherever they are. That’s the infrastructure we want to build,” he added.
Where the money will go
The startup plans to use the funds to strengthen its AI-led healthcare capabilities, expand research and development, and grow its network of connected microclinics. It has also said the capital will go towards international regulatory compliance and scaling up manufacturing of its devices.
The UAE will serve as its global expansion hub, from where it plans to pursue opportunities in Africa, the United States and Southeast Asia.
The funding will also support partnerships with healthcare providers, technology companies and organisations that want to set up connected microclinics in different markets. Clinics On Cloud said it plans to work with global healthcare innovators to add emerging AI and advanced screening technologies to its platform, so that these tools can be used outside traditional healthcare settings.
What Clinics On Cloud does
According to the company’s website, its Health ATM carries out a preventive screening in about 10 minutes and can check more than 65 clinical parameters, depending on the model. These include blood pressure, blood sugar, ECG and other cardiac, diabetes and pulmonary measurements. The kiosks are voice-guided and multilingual, work offline, do not need skilled staff to run, and send reports over WhatsApp or email, with teleconsultation built in.
The startup describes itself as a CDSCO-licensed Health ATM manufacturer. Its manufacturing facility is at Chakan MIDC near Pune.
Having started with Health ATMs, it has added Health Lounges, which are wellness screening spaces for offices and communities, Box Clinics, which are portable units for rural camps and outreach, and Mobile Medical Units. Together, these let hospitals, pharmacies, healthcare entrepreneurs, companies and government bodies set up microclinics in workplaces, housing societies, malls and underserved areas.
Clinics On Cloud claims to have more than 3,500 deployments, has carried out over 12 million health screenings, and operates in more than 8 countries, including UAE, South Africa, Zimbabwe, Madagascar, Nigeria, Kenya, Ivory Coast and the Philippines. Notably, In India it covers more than 200 Indian cities.
Some of its notable clients named on its website include Reliance, Tata Power, Godrej, Bajaj Allianz and Hewlett Packard Enterprise, along with AIIMS Rishikesh.
How it started
Agarwal has written on his personal website that the idea came to him in 2017, when he asked why a basic health check could not be as easy as withdrawing cash from an ATM. He spent 2018 and 2019 on research and experimentation with no external funding or large team, and launched commercially in 2020.
The first big order came that year from a government body, for 100 units, which took a full year to execute, according to Agarwal.
