Clinics On Cloud Raises ₹120 Cr Series A From Model42
Pune healthtech Clinics On Cloud has raised ₹120 crore (about $12.5 million) in Series A funding from Dubai-based Model42 at a ₹600 crore valuation, to expand from the UAE.
Clinics On Cloud, a Pune healthtech company that makes health screening kiosks, has raised ₹120 crore (about $12.5 million) in Series A funding from Dubai-based Model42. The round values the company at ₹600 crore.
The money will fund the company's first big overseas push, starting with the UAE.
What Clinics On Cloud actually sells
Abhay Agarwal and Manashrri Agarwal founded the company in 2018, and it has been bootstrapped for eight years until this round. Its best-known product is the Health ATM, a kiosk that the company says can run a checkup in about 10 minutes, with AI analysis and a doctor consultation by video. It also sells AI-enabled Health Lounges for offices and communities, portable Box Clinics for rural camps, and Mobile Medical Units built into vehicles. The customers are governments, hospitals, defence establishments and corporates. The company says its devices capture readings such as ECG, blood pressure, oxygen saturation, haemoglobin and HbA1c, and that its platform is not a diagnostic laboratory.
The numbers are the company's own
Clinics On Cloud says it has more than 3,500 installations, over 12 million screenings and a presence in more than eight countries, including India, the UAE, several African countries and the Philippines. It also says its device accuracy is generally 90% to 95% under ideal conditions and that running costs can be up to about 80% lower than market rates. None of these figures has been independently checked, and the company has not disclosed revenue.
Revenue is the number that would show how much of the 3,500 installations are paying.
Where the Series A money goes
The company plans to expand in the UAE first, then target Africa, the United States and Southeast Asia. It will also spend on AI-driven diagnostics, research and development, regulatory compliance in new markets, and more manufacturing capacity. Regulation is the part I would watch most closely: a screening device sold to a hospital in one country needs separate approval in another, and the United States is usually the slowest of the four. Abhay Agarwal framed the goal this way: "Quality healthcare should never depend on someone's PIN code." He also said the company wants to build the infrastructure layer for what it calls the global microclinic economy.
Who Model42 is
Model42 is a Dubai-based healthcare investment platform. Its co-founders are Timur Kudratov of Enlightened Minds Investments, Dr Aida Sheikhaliyeva and Dr Raees Tonse, founder and CEO of NAZR Ventures. It is a separate firm from M42, the Abu Dhabi healthtech company, and the two should not be confused.
The round is part of a run of Indian preventive-health and diagnostics funding. We have covered Cent's Series A in preventive health, Even Healthcare's Series B and CARPL.ai's Series A. Indian companies are also looking to the Gulf for growth, as in PhonePe's UAE approval.
