Bengaluru, India – Even Healthcare, a Bengaluru-based healthcare startup, has raised $30 million in a Series A funding round led by Khosla Ventures, with additional investments from Founders Fund, 8VC, and Lachy Groom. This fresh capital will be used to expand the company’s hospital operations and enhance its patient care processes.
Founded in 2020 by Mayank Banerjee, Matilde Giglio, and Alessandro Ialongo, Even Healthcare has quickly gained momentum in transforming the healthcare landscape in India. The startup’s unique managed care model provides a comprehensive healthcare solution that covers both outpatient (OPD) and inpatient services, including unlimited free consultations, diagnostic tests, and cashless hospitalizations.
A Focus on Integrated Healthcare
What makes Even Healthcare stand out is its focus on integrated healthcare, offering more than just standard insurance coverage. Traditional insurance providers often limit coverage to hospitalization, leaving a gap in preventive and OPD services. Even fills this gap with its holistic approach, which covers preventive care, diagnostics, and OPD services, ensuring that members get well-rounded healthcare support.
Co-founder Matilde Giglio explained, “We do everything: prevention, diagnostics, and all the tests, including OPD, not just hospitalization.”
Expansion and Growth Plans
With the new funding, Even Healthcare plans to open three new hospitals in Bengaluru. These hospitals will focus on secondary care and aim to deliver a fully integrated healthcare experience. This expansion is part of the company’s broader mission to improve healthcare access and affordability across India.
In addition to expanding its hospital network, the startup is scaling its patient care processes by leveraging technology. Even Healthcare has already introduced an AI-powered health assistant named “Even Steven,” designed to help members better manage their healthcare needs.
Financial Growth and Market Impact
Even Healthcare has experienced significant financial growth since its commercial launch. The startup generated $9 million in revenue in the fiscal year 2023-24, and it expects to close the 2024-25 fiscal year with $35 million in revenue. With a workforce of 300 employees, the company serves a wide range of corporate clients, including Grant Thornton, Pixxel, Mensa, and Urban Ladder.
Investor Confidence
Vinod Khosla, founder of Khosla Ventures, praised the company’s efforts, stating, “Modernized healthcare is essential to any country. Even Healthcare is bringing high-quality, affordable care to one of the world’s largest populations, and we’re excited to partner with them as they boldly reimagine healthcare for India.”
This new funding round will further solidify Even Healthcare’s position as a leader in India’s rapidly evolving healthcare sector, enabling it to continue delivering high-quality, affordable healthcare to its growing membership base.
