Clinics On Cloud Raises ₹120 Crore as Affle Agrees to Buy Perion

What changed

Six Indian startups announced funding rounds on 2 November, led by Clinics On Cloud’s ₹120 crore Series A at a ₹600 crore valuation.

• Clinics On Cloud: ₹120 crore, led by Model42
• CapGrid: ₹50 crore at a ₹430 crore valuation
• Two Point O Capital: $10 million, led by Transition VC
• Hyeglo Beauty: ₹7 crore
• Dispatch Network: ₹5 crore, led by Antler India
• OBSESS: ₹3 crore

Affle also agreed to buy Israeli adtech company Perion for more than $420 million, while UPI recorded 25.47 billion transactions in October.

Why it matters

The most telling deal is Clinics On Cloud’s. Its Health ATMs measure ECG, blood pressure, oxygen and haemoglobin in about 10 minutes, and the company says it has more than 3,500 installations. After bootstrapping since its 2018 founding, it now plans to enter the UAE, then Africa, the US and Southeast Asia, while spending on AI tools, research and manufacturing.

That makes this more than a funding headline. The company is trying to turn a deployed health-screening product into an export business. The hard test will be whether the new capital can support reliable expansion across very different markets, not simply add more kiosks.

The other rounds point to a similarly practical mood. CapGrid is putting money into high-precision components while expanding toward drones and data centres. Two Point O is moving deeper into battery storage alongside its solar, energy-savings and wastewater work. Hyeglo is funding products, research and hiring; Dispatch Network is growing its logistics AI team; and OBSESS also raised capital.

Taken together, the deals favour infrastructure, industrial systems and applied software over spectacle. That is a useful signal, although the funding alone says nothing about revenue, profitability, deployment quality or market share.

Affle’s proposed Perion purchase adds a much larger corporate bet to the day. The reported value is above $420 million, but the transaction terms, completion conditions and timing were not provided. UPI’s 25.47 billion October transactions, meanwhile, show the scale of India’s digital payments infrastructure continuing to set new monthly records.