For eight years, Clinics On Cloud grew without institutional funding. Now the Pune-based healthtech company behind self-service Health ATMs has raised ₹120 crore in Series A funding at a ₹600 crore valuation, marking its first major outside capital round.
The investment comes from Model42, a Dubai-based healthcare investment platform backed by Enlightened Minds Investments. Clinics On Cloud plans to use the capital to strengthen its AI-led healthcare capabilities, expand R&D, increase manufacturing capacity and build a larger network of connected microclinics. International regulatory compliance and partnerships with healthcare providers will also form part of the expansion.
Founded in 2018 by Abhay Agarwal and Manashrri Agarwal, the company started with the idea of making preventive screening accessible outside conventional hospitals and diagnostic centres. Its core Health ATM combines multiple screening functions in a compact kiosk, while the broader portfolio now includes Health Lounges, portable Box Clinics and Mobile Medical Units.
Clinics On Cloud says it has deployed 3,500+ systems, completed more than 12 million health screenings and reached over eight countries. In India, the company reports a presence across more than 200 cities. These are company-reported operating figures rather than independently audited measures of clinical outcomes.
The company now wants to use the UAE as its international expansion hub, with Africa, the US and Southeast Asia among the markets it plans to pursue. The funding will also support manufacturing scale-up from its facility near Pune and integration of additional screening and AI technologies into its platform.
The larger bet is not simply on selling more machines. Clinics On Cloud is trying to turn preventive screening into infrastructure that can be deployed wherever traditional healthcare access is limited — workplaces, communities, outreach programmes and other locations where building a full clinic may not be practical.
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