Key Takeaways
- • Even Healthcare is raising $50 million in Series B funding led by existing investor Khosla Ventures, with participation from Alpha Wave Global, at an expected valuation of $300 million—nearly double the $153 million valuation from its January Series A round.
- • The Bengaluru-based subscription healthcare provider has now raised $72.5 million across five funding rounds since its 2021 seed round, backed by a syndicate including Sharrp Ventures, Lightrock, Rainmatter, and 8VC.
- • Even Healthcare currently serves 50,000–60,000 direct members in Bengaluru and 200,000–300,000 patients across India through individual and corporate health plans, offering virtual consultations, in-clinic services, diagnostics, and hospital access.
- • The company reported FY25 revenue of Rs 27 crore against a net loss of Rs 90 crore, but projects FY26 revenue between Rs 120–130 crore, reflecting aggressive scaling as it expands its hospital footprint from one facility to five or six by year-end.
- • The funding round underscores continued institutional confidence in India's managed care and digital health segment, with Khosla Ventures' sustained participation signaling conviction in Even Healthcare's unit economics and market expansion strategy.
Summary
Even Healthcare, a Bengaluru-based subscription healthcare provider, is in advanced talks to raise $50 million in Series B funding led by existing investor Khosla Ventures, according to exclusive reporting from Entrackr. The round values the company at approximately $300 million, representing near-doubling of its $153 million valuation achieved in January during its Series A raise. Alpha Wave Global is expected to participate alongside Khosla Ventures, which has been a consistent backer since the company's $5 million seed round in 2021.
The company operates a subscription-based model offering members access to in-house physician teams for virtual and in-clinic consultations, diagnostics, laboratory testing, and hospital-based care. As of the current reporting date, Even Healthcare serves between 50,000 and 60,000 direct members in Bengaluru and an estimated 200,000 to 300,000 patients nationwide through a combination of individual and corporate health plans. The platform's expansion into institutional care infrastructure represents a strategic shift: the company opened its first hospital in Bengaluru last year and plans to operationalize four to five additional hospitals by the end of 2026.
Financial performance demonstrates significant growth trajectory alongside operational scaling. In FY25, the company reported revenue of Rs 27 crore against a net loss of Rs 90 crore. However, management guidance for FY26 projects revenue in the range of Rs 120–130 crore, indicating a 4.5–5x year-over-year increase. This substantial revenue acceleration reflects both member acquisition and per-member unit economics improvement as the platform scales. The capital raise provides dry powder to fund hospital expansion, patient acquisition in new geographies, and operational infrastructure required to serve corporate and individual health plans at scale.
Khosla Ventures' sustained participation across multiple funding rounds—from seed through Series B—reflects institutional conviction in the managed care market opportunity in India and Even Healthcare's competitive positioning. The company has now accumulated $72.5 million across five funding rounds to date, with additional investors including Sharrp Ventures, Lightrock, Rainmatter, and 8VC. The Series B raise arrives amid continued investor interest in India's digital health and managed care sectors, where subscription-based models and integrated care delivery (combining telemedicine, diagnostics, and physical infrastructure) have attracted institutional capital.
The company operates a subscription-based model offering members access to in-house physician teams for virtual and in-clinic consultations, diagnostics, laboratory testing, and hospital-based care. As of the current reporting date, Even Healthcare serves between 50,000 and 60,000 direct members in Bengaluru and an estimated 200,000 to 300,000 patients nationwide through a combination of individual and corporate health plans. The platform's expansion into institutional care infrastructure represents a strategic shift: the company opened its first hospital in Bengaluru last year and plans to operationalize four to five additional hospitals by the end of 2026.
Financial performance demonstrates significant growth trajectory alongside operational scaling. In FY25, the company reported revenue of Rs 27 crore against a net loss of Rs 90 crore. However, management guidance for FY26 projects revenue in the range of Rs 120–130 crore, indicating a 4.5–5x year-over-year increase. This substantial revenue acceleration reflects both member acquisition and per-member unit economics improvement as the platform scales. The capital raise provides dry powder to fund hospital expansion, patient acquisition in new geographies, and operational infrastructure required to serve corporate and individual health plans at scale.
Khosla Ventures' sustained participation across multiple funding rounds—from seed through Series B—reflects institutional conviction in the managed care market opportunity in India and Even Healthcare's competitive positioning. The company has now accumulated $72.5 million across five funding rounds to date, with additional investors including Sharrp Ventures, Lightrock, Rainmatter, and 8VC. The Series B raise arrives amid continued investor interest in India's digital health and managed care sectors, where subscription-based models and integrated care delivery (combining telemedicine, diagnostics, and physical infrastructure) have attracted institutional capital.
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