The Story
Clinics On Cloud, a Pune-based maker of self-service health kiosks and small connected clinics, has raised ₹120 crore (about $12.5 million) in a Series A round from Dubai-based investors. The money came through Model42, a Dubai healthcare investment platform co-founded by Timur Kudratov of Enlightened Minds Investments, Dr Aida Sheikhaliyeva and Dr Raees Tonse of NAZR Ventures. The round reportedly values the company at ₹600 crore.
Founded in 2018 by Abhay Agarwal, its chief executive, and Manashrri Agarwal, Clinics On Cloud started with Health ATMs: kiosks that run a set of basic health checks, which the company says cover more than 60 parameters in under ten minutes, and connect users to a doctor by video. It has since added larger formats, including health lounges, box clinics and mobile medical units, which combine screening, AI-assisted health insights and teleconsultations.
The company builds the equipment and places it with hospitals, pharmacies, employers, government bodies and healthcare entrepreneurs, who run it as microclinics in workplaces, housing societies, malls and underserved areas. Its units are installed in government health centres, hospitals, corporate campuses and rural communities, and at establishments of the Army, Navy and Border Security Force. It reports more than 3,500 installations and more than 12 million health screenings across eight countries.
The money will go into AI-led diagnostics, research and development, manufacturing, international regulatory approvals and a larger network of connected microclinics. The UAE will serve as the base for international expansion, with Africa, the United States and Southeast Asia to follow.
Why It Matters
India's healthcare system is built around treatment rather than early detection. Diabetes and high blood pressure, two of the country's most common chronic conditions, often go undiagnosed for years because most people see a doctor only when they feel unwell, and a basic check-up means a trip to a clinic or a lab. A kiosk in an office lobby, a housing society or a pharmacy removes most of that friction: a reading takes minutes, costs little and can lead straight into a teleconsultation.
The model also spreads the cost of building the network. Rather than running thousands of sites itself, Clinics On Cloud equips organisations that already have the footfall: hospitals looking for new patients, employers paying for staff wellness, and governments extending screening into villages. That is how a Pune company reaches installations in eight countries without owning most of the locations.
The new investors bring more than money. Enlightened Minds' business is helping companies set up in the Middle East, and the Gulf combines some of the world's highest rates of diabetes with governments keen to promote preventive health. A UAE base gives the company a nearby, well-funded first market abroad before it attempts harder ones.
The Strategic Read
The test for any health kiosk is not installation but use. Twelve million screenings across 3,500 installations works out to roughly 3,400 per installation since the company began. Even allowing for machines installed recently, that suggests a handful of checks per machine on an average day. Health kiosks have a mixed record in India for exactly this reason: they are easy to install and hard to keep busy, calibrated and trusted, and the people who most need screening are often the least likely to walk up to a machine. What matters is what happens after a reading, and whether someone with a worrying result goes on to see a doctor.
The AI story depends on the same thing. Twelve million screenings is a large dataset, but its value rests on how accurate the readings are, whether results can be linked to what happened next, and how carefully personal health data is handled. Each new country brings its own rules on medical devices and health data, and the United States in particular demands lengthy clearances for diagnostic equipment, which is why regulatory approvals feature in the spending plan.
The source of the money is telling. The Series A has come not from India's established health-tech investors but from a Dubai healthcare investment platform, at a ₹600 crore valuation for a business that builds and ships hardware. That says where the founders see the next market, and it means the Gulf expansion will lean heavily on the investors' local networks.
Prevention is drawing money from more than one direction. Last month Even Healthcare raised $50 million to build hospitals that earn more when members need less care. Clinics On Cloud's bet is cheaper and simpler: put screening where people already are, so problems surface early.
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