Bengaluru-based insurtech and healthtech startup Clinikk has raised $4 million in pre-series A round led by MassMutual Ventures. Existing investors Times Internet Group, EMVC, 500 Southeast Asia, and WEH Ventures also joined the round. 

Kunal Shah (Founder, Cred), Anjali Bansal (Founder, Avaana Capital), Rohit M.A. (Co-founder and MD of Cloudnine Hospitals), Stanford Angels, and other prominent individual investors also participated in the funding round.

The startup plans to use the freshly raised capital to consolidate its full-stack product offering and increase its footprint in Bengaluru and other cities. Clinikk will also invest in product development and hiring key team members. 

Clinikk | Transforming Health Insurance

Co-founded by Dr Suraj Baliga and Bhavjot Kaur, Clinikk is transforming the insurtech and healthtech space in India by building India’s first managed care model. Its product, launched in 2018, integrates outpatient care and health insurance to meet the needs of 600 million Indians. 

Speaking on the development, Dr. Suraj Baliga, Co-founder of Clinikk and an orthopaedic surgeon, stated,

“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.”

Clinikk’s integrated health model is transforming healthcare delivery by focusing on preventive healthcare, thereby reducing health insurance claims that typically cover higher catastrophic expenses. 

Making health financing more sustainable, Clinikk’s comprehensive full-stack package includes family health insurance coverage, unlimited OPD consultations delivered digitally, and in Clinikk care centres, all at an affordable monthly subscription.

Speaking about the health insurance space, 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.”

Clinikk claims to have seen massive growth in retail, with more than 10,000 families subscribed to the full-stack plan, growing 30% month on month. As per the startup, it aims to add 20 million subscribers in the top 50 Indian cities by 2025.

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