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Bengaluru based insurtech and healthtech startup, Clinikk has raised $4 million in pre-Series A round funding led by MassMutual Ventures in participation from groups of Angel Investors including Kunal Shah (Founder, Cred), Rohit M.A. (Co-founder & MD of Cloudnine Hospitals), Anjali Bansal (Founder, Avaana Capital), and from Stanford Angels.
The round also included participation from its existing investors Times Internet Group, EMVC, 500 Startups, and WEH Ventures.
Speaking on the funding, Dr.Suraj Baliga, co-founder of Clinikk & an orthopedic surgeon said, “Unfortunately, primary care is often neglected, and because of this, we see huge increases in out-of-pocket expenses. An integrated care model leads to significantly improved health outcomes and more sustainable health insurance pricing. We are already starting to see the benefits of the model play out at Clinikk. What differentiates us is that our care delivery is completely protocol-based and quality controlled and is focussed on optimal health outcomes.”
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.
Speaking on the investment in Clinikk, Ryan Collins, Managing Director at MassMutual Ventures said, “We have been following Clinikk for some time and firmly believe in the integrated model. There is a huge opportunity to improve access to, and quality of, outpatient care within India. Clinikk’s growth has been very impressive so far, and Bhavjot and Suraj are a great founding team with complementary skill sets.”
Further speaking on the fundraise, Bhavjot Kaur, Co-founder of Clinikk said, “Lack of penetration of health insurance is not as much a distribution problem as it is a product problem. At the current price point and product construct, health insurance remains at best a prepaid hospitalization cover. We have perfected our care delivery model where the incentives of all stakeholders involved are aligned. Over the next three months, our subscribers will be able to reach a qualified doctor digitally or walk into their nearest Clinikk network care center in 10 minutes.”