Pune-based health-tech company Clinics On Cloud, best known for taking Health ATMs into offices, campuses and public facilities, has raised ₹120 crore in a Series A round at a valuation of ₹600 crore. The capital comes from Model42, a Dubai-based healthcare investment platform, and marks the company’s first institutional raise after eight years of bootstrapped growth.

From bootstrapped Health ATMs to a microclinic platform

Founded in 2018 by Abhay Agarwal along with co-founder Manashrri Agarwal, Clinics On Cloud started with self-service Health ATMs designed to make basic preventive screening as easy to reach as a cash machine. The company says it has since crossed 3,500 installations and more than 12 million health screenings, with a footprint in over eight countries.

Its portfolio has widened well beyond kiosks. Clinics On Cloud now builds AI-enabled Health Lounges, modular Box Clinics and Mobile Medical Units, combining point-of-care diagnostics, AI-driven health insights, digital records and teleconsultation in one stack. Governments, hospitals, defence establishments and large employers use these units to stand up connected primary-care and screening points without building a full clinic.

Where the ₹120 crore will go

According to the company, the funding will drive an international expansion led by the UAE, followed by Africa, the United States and Southeast Asia. A significant share is earmarked for AI-driven diagnostics, research and development, international regulatory compliance and scaling up manufacturing of its devices, as Clinics On Cloud works towards a global network of microclinics.

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 pairs capital with healthcare expertise and access to international markets for the companies it backs.

“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… Our ambition is to build the infrastructure layer for the global microclinic economy.”
— Abhay Agarwal, Founder & CEO, Clinics On Cloud

Why it matters for digital health

India’s primary-care gap is as much about distance as it is about cost. Compact, connected screening points that plug into teleconsultation and digital records offer a way to push preventive care into workplaces, rural blocks and institutional campuses where a full clinic is not viable. The raise also reflects growing investor appetite for preventive and point-of-care health models, coming in the same week as several other Indian healthtech funding announcements.

For Clinics On Cloud, the next test will be whether a model refined in India can meet regulatory and clinical standards across very different markets, while keeping its AI diagnostics accurate and its units affordable for public-health buyers.

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