City-based insurtech and healthtech start-up 'Clinikk' on Tuesday said it has raised $4 million in pre-series A funding, led by MassMutual Ventures.
The round saw participation from Kunal Shah (Founder, Cred), Rohit M.A. (Co-founder and MD of Cloudnine Hospitals), Anjali Bansal (Founder, Avaana Capital), Stanford Angels, and other prominent individual investors.
Existing investors Times Internet Group, EMVC, 500 Startups’ Southeast Asia-focused 500 Southeast Asia, and WEH Ventures also joined the round, the company said in a release.
It said, with this fundraise, Clinikk will consolidate its full-stack product offering and increase its footprint in Bengaluru and other cities. It will also invest in product development and hiring key team members.
Clinikk had raised $2.4 million in seed capital prior to this fundraise, bringing their total raised to $6.4 million.
According to Clinikk, it is building India's first true managed care model by closely integrating outpatient care and health insurance for 600 million Indians.
The company’s comprehensive package includes family health insurance coverage and unlimited OPD coverage delivered digitally and through state of the art care centres - all at an affordable monthly subscription, it said.
The company has seen growth in retail with more than 10,000 families subscribed to the full stack plan, growing 30 per cent MoM, and aims to add 20 million subscribers in the top 50 Indian cities by 2025, it added.
(With inputs from PTI)
