Bengaluru-based startup Even Healthcare has raised $20 million in new funding. The money came from investors Lachy Groom and Alpha Wave, with Sharrp Ventures also joining the round.
With this latest funding, the company has now raised a total of $70 million so far. Its company value has also more than doubled in less than one year, showing strong growth.
Earlier, in October 2024, Even Healthcare had raised $30 million in its Series A funding round. That round was led by Khosla Ventures and was supported by Founders Fund, 8VC, and Lachy Groom.
Even Healthcare will use this new funding to grow its hospitals in Bengaluru. The company opened its first hospital in May 2025. Earlier, Even mainly worked as a membership-based healthcare platform, but now it is changing into a full healthcare provider. It now offers doctor visits, lab tests, and hospital treatment under one system.
Even also shared that its first hospital started covering its costs in less than six months, which is very fast. Normally, new hospitals take many years to become profitable. The company said this happened because of its managed-care model, which focuses on treating patients early, coordinating their care properly, and reducing the time patients need to stay in the hospital, instead of just trying to keep beds full.
Mayank Banerjee, co-founder of Even Healthcare, said, “We’re proud of that milestone because it’s fast by hospital standards – many hospitals take 2 to 3 years to reach operating break-even. What matters even more is how we got there.”
Lachy Groom, cofounder of Physical Intelligence, said, “Even is demonstrating something rare in Healthcare: strong clinical outcomes alongside early unit level profitability. Managed care works when incentives are aligned around patient recovery and Even has shown that this model can scale without compromising quality. Their ability to reach break-even in under six months while reducing avoidable hospitalisations gives us confidence that this is a business worth doubling down on.”
Even Healthcare was started in 2020 by Mayank Banerjee, Matilde Giglio, and Alessandro Ialongo. The company gives its members free and unlimited doctor consultations, lab tests, and other medical services. These services are provided through Even’s own clinics, partner clinics, and insurance partners.
Even follows a “payvider” model, which means it combines health insurance and healthcare services in one system. Its medical teams take care of patients at every step — from doctor visits and tests to hospital treatment and recovery at home. The company says this system helps reduce unnecessary hospital visits and repeat treatments, keeps costs under control, and helps patients recover better.
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