The healthcare management company Even Healthcare, based in Bangalore, has raised $50 million in a Series B funding round. This round was led by existing investor Khosla Ventures with participation from Alpha Wave. The raised funds triple the company's valuation compared to the previous funding round, bringing the total amount raised to over $120 million.
Even plans to use this capital to open five new hospitals in Bangalore over the next six months. Vinod Khosla, founder of Khosla Ventures, noted that most healthcare companies optimize only one element of the fragmented system, whereas Even aims for a more ambitious goal: integrating financing, technology, and care so that the system is rewarded for improving health outcomes rather than increasing service utilization.
He added that clinical and economic results demonstrate the convincing nature of this model as a significant new approach to healthcare in India and beyond.
For most Indian families, visiting a hospital involves uncertainty: patients are forced to repeat their medical history, they struggle to decide if tests or surgery are necessary, they face unpredictable bills, and receive little support after discharge. This problem is structural, as a significant part of the private system earns more by increasing the volume of services, while no one is responsible for patients between visits.
At Even, members have one care team that knows their history and intervenes before problems escalate. The company provides hospital care without upfront payment through doctors who lack financial incentives to recommend unnecessary procedures, and it provides follow-up care until full recovery.
Mayank Banerjee, co-founder of Even Healthcare, emphasized that the company accompanies its members from the first consultation to the hospital bed and back home, and that their economic model depends on maintaining client health. He reported that the successful operation of two hospitals in record time and a readmission rate below one percent prove the viability of the model. The current round aims to scale this model to a city-wide level: opening an Even hospital near every family in Bangalore, and then in every major city in India.
Even's model is built on various incentive mechanisms. It is the only private hospital network in India where doctors are not paid based on the number of procedures performed or revenue generated. Instead, they are evaluated based on patient treatment outcomes, recovery time, and frequency of readmissions. An AI-based quality control system analyzes every case according to clinical protocols in real-time, allowing issues to be identified while patients are under Even's observation.
The first full year of the healthcare management system demonstrated the effectiveness of the model. In programs implemented with insurance partners, unplanned readmissions remained below 1 percent, significantly lower than the industry range of 8–15 percent. The average length of hospital stay was reduced by 40 percent. Proactive care allowed over 200 members to remain out of the hospital, saving patients an estimated 15–16 crore rupees.
Currently, Even is expanding this model from individual facilities to a city-wide network. Both existing hospitals achieved operational profitability in record time. Five more hospitals will open in Bangalore over the next six months, starting in the Indiranagar area. The goal is to place an Even hospital within a five-kilometer radius of every city member, and then extend the same model to other major cities in India.
Currently, Even serves over 250 thousand members in 10 cities and has increased its membership by three over the last year.
