Bengaluru-based managed care startup Even Healthcare has raised $50 million in a Series B funding round led by existing investor Khosla Ventures, with participation from Alpha Wave, the company announced. This all-equity primary round brings Even Healthcare's total funding to over $120 million. The startup plans to use the proceeds primarily to expand its hospital network in Bengaluru, aiming to open one new hospital by the end of 2026 and three more by the end of FY27, according to inc42.com.
Founded in 2020 by Mayank Banerjee, Matilde Giglio, and Alessandro Ialongo, Even Healthcare offers an integrated managed care model that combines preventive care, outpatient consultations, diagnostics, insurance access, hospitalisation, and post-discharge recovery. The startup currently operates two multispeciality hospitals in Bengaluru on Race Course Road and in HBR Layout. Co-founder Mayank Banerjee said the company wants to ensure Bengaluru patients and members are well served before expanding to other cities. Even Healthcare’s valuation has tripled since its previous fundraise 18 months ago, though the latest valuation was not disclosed.
The $50 million Series B round follows an earlier $20 million raise this year aimed at expanding the hospital network and launching new facilities. Even Healthcare’s model focuses on reducing healthcare costs by managing patients’ health beyond individual hospital visits, including services such as telemedicine, at-home blood tests, medical guidance, and cashless hospitalisation through insurance partners. The startup’s approach aligns with growing demand for integrated healthcare solutions in India’s managed care sector, where comprehensive patient management is gaining traction.
Even Healthcare plans to open its third hospital in Bengaluru by the end of 2026, followed by three additional hospitals by the end of FY27, reinforcing its position in the city before entering other markets, inc42.com reported.