Bengaluru-based Even Healthcare has raised $50 million in funding in a round led by Khosla Ventures.
The company plans to use the money to expand its hospital network and make healthcare more affordable and accessible in India.
Alpha Wave also participated in the round, which values the startup at around $300 million.
Even Healthcare aims to improve the way hospitals treat patients and manage medical costs. Its business model focuses on patient recovery, transparent pricing and reducing unnecessary tests and procedures.
With the latest investment, the company plans to expand its presence in Bengaluru and reach more patients through its own hospitals.
Key Highlights
- Khosla Ventures Leads $50 Million Funding Round in Even Healthcare
- Even Healthcare Valued at $300 Million as It Plans Bengaluru Expansion
- Even Healthcare to Open Five More Bengaluru Hospitals With Fresh Funding
Funding to Support Hospital Expansion
Khosla Ventures has backed Even Healthcare since its early funding stage in 2021. The latest investment will help the company open more hospitals and strengthen its existing operations. It currently operates two hospitals in Bengaluru and plans to open five more in the city over the next six months.
The company leases hospital buildings and invests in medical equipment and other facilities. According to co-founder Mayank Banerjee, both existing hospitals became operationally profitable, excluding depreciation, within a year of opening.
Even Healthcare initially worked with existing hospitals to provide treatment to its members. However, the company became concerned about cases in which patients were advised to undergo tests or surgeries that it considered unnecessary. It decided to operate its own hospitals to have greater control over treatment quality, medical decisions and costs.
The company believes this approach can help patients receive the treatment they need without facing unnecessary expenses.
Focus on Patient Recovery and Quality Care
Even Healthcare has adopted a different approach to paying doctors. Instead of linking their salaries to the number of tests or procedures they recommend, the company pays doctors fixed salaries. They can also receive bonuses based on patient recovery and reported treatment outcomes.
Hospital management teams follow a similar system, with their compensation not directly linked to the number of procedures performed. The company also offers employees, including doctors and hospital staff, equity in the business.
Even Healthcare says this model encourages doctors to focus on patient recovery rather than the number of treatments provided. The company tracks patient outcomes and publishes related data on its website.
According to the startup, its hospitals have an unplanned readmission rate of less than 1%, compared with an industry benchmark of 8% to 15%. It also claims that patients spend 40% less time in the hospital and that its approach has helped insurers save more than ₹500 million. These figures are based on data reported by the company.
Most of Even Healthcare’s revenue comes from patients paying for treatment, along with income from partnerships with insurance companies. The startup is also exploring ways to work with insurers on preventive healthcare, including arrangements that reward the company for helping patients avoid hospital admissions when treatment is not necessary.
Financial Challenges Continue Despite Growth
Even Healthcare still faces financial challenges as it expands. The company reported a net loss of ₹902 million in the financial year 2025, while its revenue stood at ₹272 million, according to regulatory filings cited in the report. Its losses increased by nearly 25% compared with the previous year.
In August, the company also reportedly laid off around 350 employees as part of a restructuring exercise. Co-founder Banerjee said affected employees received severance payments, extended health insurance and accelerated equity vesting.
Despite these challenges, the startup has built a growing customer base. It currently has around 250,000 members and has recorded more than 750,000 patient interactions since launching in 2021. These include consultations, diagnostic tests and surgeries. The company employs approximately 650 people, including around 300 full-time doctors.
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The latest funding gives Even Healthcare more resources to expand its hospital network and develop its patient-focused model. However, controlling costs, improving financial performance and maintaining treatment quality will be important as the company opens more hospitals and competes in India’s healthcare industry.
