Even Healthcare Raises $50M Series B Led by Khosla Ventures to Expand Hospitals

Even Healthcare, an Indian integrated managed care company, has raised $50 million in a Series B funding round led by existing investor Khosla Ventures, with participation from Alpha Wave. The latest financing triples the company's valuation compared with its previous raise 18 months earlier and takes its total funding to more than $120 million, according to the company.

The Bengaluru-focused healthcare business plans to use the fresh capital to launch five new hospitals across the city over the next six months. The expansion will build on its membership-based model, which combines primary care, diagnostics, hospital services, and post-discharge recovery under a coordinated healthcare offering.

Co-founded in 2021 by Mayank Banerjee, Matilde Giglio, and Alessandro Ialongo, Even Healthcare aims to provide continuity of care rather than treating consultations, diagnostics, hospitalisation, and recovery as disconnected services.

Even Healthcare's $50 Million Series B Funding

Khosla Ventures led the $50 million Series B round, continuing its backing of the company. Alpha Wave also participated in the latest financing.

The round marks a substantial increase from the funding activity reported earlier in 2026. In January, Even Healthcare raised $20 million in a round led by Lachy Groom and Alpha Wave.

In August 2026, Entrackr reported that the company was preparing to raise approximately Rs 208 crore, or $22 million, in a Series B round led by Khosla Ventures, with participation from DLB Ventures, Simon Fiduciaria, and others. The latest announcement puts the reported Series B funding at $50 million.

Following the latest raise, Even Healthcare's total funding has exceeded $120 million. The company also said its valuation has tripled compared with its previous raise 18 months earlier, although the latest valuation figure was not disclosed in the supplied report.

The new capital is intended to support hospital expansion, with five new hospitals planned across Bengaluru within six months.

A Membership-Based Approach to Healthcare

Founded in 2021, Even Healthcare operates a membership-based managed care model designed to coordinate different stages of a patient's healthcare journey.

Its services include primary care, diagnostic testing, hospital services, and support following discharge. Care teams manage patients across these stages, with the aim of providing continuity instead of leaving individuals to navigate separate providers and services independently.

The company says it serves more than 250,000 members across 10 cities.

This approach reflects an effort to combine routine healthcare access with more complex treatment within one coordinated model. Rather than focusing exclusively on hospital visits, the business also places primary care and diagnostics within its broader offering.

The model's success depends on the company's ability to coordinate providers, manage treatment pathways, and maintain service quality as its membership and hospital network grow.

Five New Hospitals Planned in Bengaluru

Even Healthcare plans to launch five new hospitals across Bengaluru over the six months following its latest funding announcement.

The expansion is the clearest stated use of the new capital. By adding hospital capacity, the company intends to strengthen the physical infrastructure supporting its managed care model.

Hospitals can provide a setting for more complex treatment while connecting patients with the company's other services, including primary care, diagnostics, and post-discharge recovery.

However, operating more hospitals also requires substantial coordination across staffing, clinical services, infrastructure, and patient management. The company will need to execute its rollout while maintaining the continuity of care that forms the foundation of its model.

The supplied announcement does not specify the locations, capacity, or individual opening dates of the five planned hospitals.

Revenue Growth and Financial Performance

Even Healthcare's latest funding comes as its financial performance and operating costs remain important considerations.

The company has not yet filed its FY26 financial statements with India's Registrar of Companies, according to Entrackr.

Its FY25 revenue increased more than fourfold to Rs 25.43 crore, compared with Rs 6.24 crore in FY24. However, its losses also increased, rising 24.5% from Rs 72.40 crore in FY24 to Rs 90.15 crore in FY25.

These figures show that revenue growth has not yet translated into lower reported losses. The latest funding could provide capital for expansion, but the company's future financial performance will depend on how effectively it grows its membership, operates its hospitals, and manages the costs of delivering healthcare.

The report does not provide a profitability timeline or financial projections associated with the new funding round.

Recent Layoffs Add Context to the Fundraise

The latest funding round follows a significant workforce reduction reported in August 2026.

According to Entrackr's earlier reporting, Even Healthcare laid off around 350 employees that month. The latest funding announcement comes after that restructuring and outlines a renewed focus on expanding its hospital network.

The available report does not explain the precise reasons for the layoffs or establish how the workforce reduction relates to the company's current expansion plans. It would therefore be premature to assume that the two developments were directly connected.

Nevertheless, the sequence of events highlights the importance of balancing growth investments with operational efficiency as healthcare startups scale their services.

The company's ability to execute its hospital expansion while managing staffing requirements, service quality, and operating costs will be an important part of its next phase.

Competition in India's Integrated Healthcare Market

Even Healthcare operates in a market where startups are experimenting with ways to make healthcare more coordinated, accessible, and predictable in cost.

Superhealth offers subscription-based consultations and diagnostics alongside fixed-price medical procedures. Oncare, another player in the sector, raised Rs 27 crore in a Series A round in February 2026 to expand its specialised cancer care centres.

These companies pursue different approaches, but they share an interest in organising healthcare services around patient needs rather than relying exclusively on isolated transactions.

Membership-based and integrated care models can potentially encourage earlier access to healthcare and more coordinated treatment. Their long-term viability, however, depends on patient adoption, reliable clinical delivery, cost management, and the economics of serving members over time.

For Even Healthcare, the combination of primary care, diagnostics, hospitalisation, and post-discharge support is central to its differentiation. Expanding the hospital network could strengthen that offering, provided the company can maintain consistent care across locations.

What Comes Next for Even Healthcare?

With $50 million in fresh funding, total funding above $120 million, and more than 250,000 members across 10 cities, Even Healthcare is preparing for its next phase of expansion.

Its immediate goal is to launch five new hospitals across Bengaluru within six months. The company will also need to demonstrate that its integrated care model can scale while improving its financial performance.

Its FY25 revenue growth provides evidence of increased business activity, but reported losses of Rs 90.15 crore underline the financial challenges that remain. The lack of FY26 financial filings also means its latest financial position is not yet available in the supplied report.

The next stage will depend on whether the company can convert fresh capital into expanded healthcare access, sustained patient demand, and stronger operating economics.

For India's healthcare startup ecosystem, Even Healthcare's latest round represents continued investor interest in integrated care models. For the company itself, the challenge is now execution: expanding hospital capacity while delivering coordinated care and building a more sustainable business.