Even Healthcare raises $20M, claims early break-even at first Bengaluru hospital
The funding will be used to scale Even’s hospitals in Bengaluru, where it launched its first facility in May 2025, marking a shift from a membership-led healthcare platform to a vertically integrated provider combining outpatient care, diagnostics and hospitalisation.
Even Healthcare, a Bengaluru-based managed-care startup, has raised $20 million in fresh funding from Lachy Groom and Alpha Wave as it looks to expand its hospital footprint and deepen its integrated care model.
The funding round saw participation from Sharrp Ventures. The latest raise brings Even’s total funding to about $70 million and more than doubles its valuation over the past year, according to the company.
The capital will be used to scale Even’s hospitals in Bengaluru, where it launched its first facility in May 2025, marking a shift from a membership-led healthcare platform to a vertically integrated provider combining outpatient care, diagnostics and hospitalisation.
Alongside the funding announcement, Even said its first hospital reached operating break-even in under six months, an unusually short timeline in an industry where new hospitals often take several years to stabilise financially. The company attributed the performance to its managed-care approach, which emphasises early intervention, coordinated care, and shorter hospital stays rather than maximising bed occupancy.
Founded in 2020 by Mayank Banerjee, Matilde Giglio, and Alessandro Ialongo, Even Healthcare provides its members with unlimited free consultations, diagnostics tests, and other medical services through a network of owned and partner clinics and insurance partners.
Even operates on a “payvider” model, combining payer and provider functions, where care teams are responsible for patients across the full treatment cycle, from consultations and diagnostics to hospital care and recovery at home. The company says this structure helps reduce avoidable admissions and repeat visits, aligning clinical outcomes with cost control.
According to data shared by the company, a tracked cohort across its hospital and care network recorded no unplanned 30-day readmissions and no post-operative infections across more than 350 surgeries, alongside shorter average lengths of stay compared with similar case mixes. Even also reported avoiding more than 200 hospitalisations through monitored at-home recovery pathways.
The expansion comes amid growing investor interest in managed-care and integrated healthcare models in India, as startups increasingly move beyond asset-light platforms into owning or operating physical infrastructure to gain greater control over costs, quality, and patient experience.
Even said it plans to continue expanding its hospital presence in Bengaluru before exploring other markets. The company is backed by global venture firms including Khosla Ventures, Founders Fund and 8VC.
Edited by Megha Reddy