Healthtech startup Even raises $15M from Alpha Wave, Lightrock

The preventive care firm, founded in 2020, will use the funds to expand its clinical team.

Healthtech startup Even raises $15M from Alpha Wave, Lightrock

Friday November 11, 2022,

2 min Read

Even, a preventive healthcare platform, raised $15 million from Alpha Wave and Lightrock, earlier known as Aspada. Existing investors including Khosla Ventures, Founders Fund, CRED's Kunal Shah, and Tom Stafford ( Partner at DST Global) also participated in the round.

The healthtech platform will use the funds to hire more clinical experts, including doctors who provide the course of action for health goals such as quitting smoking, and managing specific diseases including diabetes and PCOS (Polycystic Ovary Syndrome). Run by Even Healthcare Pvt Ltd, the platform earlier raised $5 million in its seed round.


Even was founded in 2020

"Our doctors collect and study important information about members’ health and suggest ways to mitigate risks. Comorbidities like diabetes, high cholesterol, high BP, obesity are quite common in India, and are often uncontrolled due to reluctance in visiting a doctor and not getting health checks unless there are symptoms," Matilde Giglio, Co-founder, Even said in a release shared by the company.

Matilde claims about 50% of the platform's users found out they were diabetic only after the onboarding process.

Started in 2020 by Matilde, who was earlier an angel investor; Mayank Banerjee, an Oxford University graduate; and Alessandro Davide Lalongo, a PhD holder from the University of Cambridge, Even provides healthcare services to members on the platform.

The health membership product cost around $200 per year for a person aged 18 to 35 and covers everything—including unlimited consultations with primary care doctors, diagnostics, and scans. The membership will also follow as the person ages.

"Even is a revolutionary model that integrates care delivery and financing, ensuring that members make the best health decisions for themselves with the support of high-quality doctors incentivised to deliver patient outcomes," said Tejasvi Ravi, Healthcare lead at Lightrock India .

The Bengaluru-based firm was founded around the time when many Indians were waking up to the harsh realities of hospital bills and not having enough insurance coverage.

Even currently competes with Sequoia Capital-backed Kenko Health, Loop, based in Pune and backed by Elevation Capital, and Clinikk, which also provides doctor assistance, among other services.

Edited by Kanishk Singh