New Delhi, Jan. 6 -- Managed healthcare platform Even Healthcare, backed by investors such as Khosla Ventures, said Tuesday it has secured $20 million (about Rs 180 crore) in an extended Series A round.
The funding was led by existing investors Lachy Groom and Alpha Wave, and joined by new investor Sharrp Ventures. With the funding, Bengaluru-based startup has raised $70 million in funding to date, the company said in a statement.
The latest funding comes more than a year after Even raised $30 million in its Series A round, which was led by Khosla Ventures, to build its hospital operations. Some of its investors who have backed the company in previous rounds include Founders Fund, 8VC, and Lachy Groom.
Even Healthcare said it will use the fresh capital to expand its hospital footprint in Bengaluru and scale its managed-care model, which it says is designed to optimise patient recovery and outcomes rather than hospital utilisation. Its care teams offer a range of services from early access through 24/7 teleconsultations and coordinated diagnostics to hospitalisation when needed and structured recovery support at home.
The announcement comes a few months after VCCircle reported in July last year that Even Healthcare was planning to raise between Rs 400 crore ($47 million) and Rs 500 crore in new funding from existing and new investors to transition from a digital-first model to a full-stack healthcare delivery platform.
The company would require around Rs 700-800 crore to support its plans of launching up to 25 hospitals over the next three-five years, VCCircle reported, adding that a part of the funding will come from internal accruals.
Founded in 2020 by Mayank Banerjee, Matilde Giglio, and Alessandro Ialongo, Even Healthcare is a managed-care provider offering free consultations, diagnostic tests, and cashless hospitalization, supported by a vertically integrated "payvider" approach that prioritizes preventative and outcome-led care. The company launched its first hospital in Bengaluru in May 2025, growing into a full-stack system that combines primary, preventive, and hospitalization care under one model.
Even said that its first hospital has reached operating break-even in under six months. Commenting on the milestone, co-founder Banerjee, said: "Many hospitals take two to three years to reach operating break-even. What matters even more is how we got there: Even's model is structurally designed to reduce what many hospitals are paid to maximize - unnecessary admissions, long stays, and avoidable return visits."
"This tells us you can build a hospital that keeps people healthier, puts patients first, and still run a strong business," he added.
Published by HT Digital Content Services with permission from VC Circle.