Through its membership model, the startup offers consultations, diagnostic tests, and cashless hospitalisation. Even, which is also backed by Khosla Ventures and the Founders Fund, will use the capital to expand its hospital footprint in Bengaluru and scale its managed-care model.
Speaking to ET, cofounder Mayank Banerjee said, “India has large corporate players doing a great job, but they’re largely revenue-focussed. What’s interesting is building a hospital that actually makes money by keeping people healthy and reducing the need for hospitalisation.” He added that Even is trying to build an alternative model to the default healthcare system in India.
In July 2025, the startup opened a hospital in Bengaluru integrating primary, preventive, and hospitalisation care, and achieved break-even in six months.
Banerjee said most hospitals take two to three years to reach operating break-even. “Even’s model is designed to reduce what many hospitals maximise — unnecessary admissions, long stays, and avoidable return visits,” he explained.
Launched in 2020, Even said (in a statement) that in the last 12 months the startup had seen an improvement in clinical outcomes and operational execution. It had seen a 50% reduction in post-surgery readmissions, over 5,000 OPD visits, had avoided over 200 hospitalisations through monitored at-home recovery, and cut the average length of hospital stay by 40%.
On expansion, Banerjee said that metro cities already have a lot of healthcare options. “Long term, we want to build a healthcare system for all of India, not just Delhi, Mumbai, or Bengaluru. On the insurance side, we already serve members across India, and about 50% of our growth comes from referrals,” he added.
Lachy Groom, cofounder of Physical Intelligence, said, “Even is demonstrating something rare in healthcare: strong clinical outcomes alongside early unit-level profitability. Managed care works when incentives are aligned around patient recovery, and Even has shown that this model can scale without compromising quality. Their ability to reach break-even in under six months while reducing avoidable hospitalisations gives us confidence that this is a business worth doubling down on.”
