EMVC leads investment in Clinikk to support their mission to solve healthcare financing, insurance, and access for 600million uninsured Indians

Today, EMVC has announced its investment in digital insurance and health tech company Clinikk, alongside co-investors including 500 Startups, Times Internet Group, First Principles, WEH Ventures, and Google alumni.

Clinikk is transforming healthcare for Middle India by coupling primary care and comprehensive health insurance into one affordable subscription for the 600-million uninsured in the country. The company is growing subscribers by 40% QoQ, delivering positive primary healthcare outcomes and maintaining one of the strongest health insurance portfolios in India.

Clinikk’s full-stack package includes family health insurance coverage, unlimited telemedicine consultations, personal assistance and select offerings at Clinikk’s modular in-person primary care centers, all delivered in 10+ local Indian languages. Witnessing the surge in healthcare and insurance awareness in the past few months, the company projects an addition of at least 300k new subscribers within the next 3 months.

Suraj Baliga, co-founder of Clinikk, a veteran doctor in India’s medical industry, said: “Clinikk is currently covering over 500,000 lives across India and we won’t stop until millions of lives are improved for the better. Our 360-degree insurance plus primary care product is really compelling for our target users: 95% of our subscribers use Clinikk as their first point of healthcare contact..” 

The company is currently growing their user base 40% quarter-on-quarter. By offering a full-stack solution that combines primary care (telemedicine and in-person centers) with financial risk protection, Clinikk is able to deliver timely health interventions, prevent unnecessary hospital visits, thus optimizing the insurance portfolio and leveraging a longitudinal health data engine to co-create health insurance products of the future.

“We are glad to have the support of such renowned investors on our side. Their years of expertise and connections in the ecosystem will help us scale up massively. Looking forward to their continued guidance and mentorship in all our business decisions.” Baliga added.

Clinikk is opening doors to the underpenetrated healthcare insurance market and enabling insurers to tap the potential while ensuring a profitable portfolio because of Clinikk’s strong primary care intervention.

“Clinikk is tackling one of the most important problems in India - the health and financial security of 600 million uninsured and vulnerable citizens of the country. Clinikk’s technology-based approach dramatically increases the reach and efficiency of primary care and insurance coverage while keeping costs affordable for the majority of the population.” said Vishal Harnal, Partner at 500 Startups.

Clinikk has launched multiple partnerships during COVID, with platforms such as Rebel Foods and Ola, implementing a telemedicine hotline for 1.6 million Goans in partnership with the state government, and delivering India’s first comprehensive COVID insurance protection cover.

Speaking on the impact of COVID, Bhavjot Kaur, co-founder of Clinikk, sees the macro environment as an enormous catalyst and opportunity. “Covid has basically made a product like Clinikk top-of-mind for all consumers. We are not only able to provide the peace-of-mind of financial risk protection, but also significantly de-risk that insurance coverage and create an integrated healthcare experience with our primary care channels.” she added. 

As health insurance and healthcare become essential parts of every consumer’s life, Clinikk aims to define the next generation of healthcare experience. 

For more information: https://economictimes.indiatimes.com/tech/funding/clinikk-secures-pre-series-a-financing-from-emvc-500-startups-others/articleshow/79270377.cms