Bengaluru-based healthcare startup, Even Healthcare, has raised $30 million (approximately Rs 252 crore) in a funding round led by Khosla Ventures, along with participation from prominent US investors such as Founders Fund, 8VC, and Lachy Groom. The infusion of capital will enable the company to launch hospitals in Bengaluru and scale its patient care services, with the goal of becoming a fully integrated healthcare provider.
This new investment raises Even Healthcare’s total funding to $50 million to date. Founded in 2020 by Mayank Banerjee, Matilde Giglio, and Alessandro Ialongo, the company operates as a managed care provider, offering members comprehensive healthcare services, including unlimited consultations, diagnostic tests, and cashless hospitalisation. These services are delivered through a combination of in-house clinical teams, owned clinics, partner facilities, and insurance partners.
Strengthening Patient-Centric Care with In-House Services
Even Healthcare differentiates itself by integrating outpatient and preventive care into its offerings, unlike traditional insurance products that focus only on hospitalisation. “We provide everything—prevention, diagnostics, OPD care, and hospitalisation—ensuring most services are handled in-house,” said Matilde Giglio, co-founder of Even Healthcare.
Currently, the company has five clinics in Bengaluru and partnerships with thousands of clinics across India. It serves around 200 business-to-business clients, including Grant Thornton, Pixxel, Mensa, Ultrahuman, Slice, and Urban Ladder.
Exponential Growth and Expansion Plans
In FY 2023-24, the startup reported $9 million in revenue and expects to achieve $35 million by the end of FY 2025, with its current run rate already at $28 million. With a workforce of approximately 300 employees and a presence in metro cities such as Delhi, Mumbai, Hyderabad, Pune, and Bengaluru, Even Healthcare is focused on expanding into both metro and tier-2 cities.
A significant portion of the new funding will go towards establishing three hospitals in Bengaluru, with a focus on secondary care. “Building these hospitals aligns with our strategy of enhancing patient experience through in-house services, while also increasing margins,” Giglio explained.
Investor Backing and Vision for Integrated Healthcare
Vinod Khosla, founder of Khosla Ventures, expressed confidence in Even Healthcare’s approach, stating, “Modernised healthcare is essential for any nation. Even Healthcare is delivering affordable, high-quality care to one of the world’s largest populations, and we are excited to support them as they redefine healthcare in India.”
This latest round follows previous investments of $5 million in 2021 and $15 million in November 2022, reflecting continued investor interest and the company’s rapid growth trajectory. With access to substantial capital, Even Healthcare aims to accelerate its expansion efforts and solidify its position as a leading integrated healthcare provider in India.
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