Even Healthcare raises $50 million in Khosla Ventures round to expand Indian hospital network

What happened in the funding round

Bengaluru-based healthcare startup Even Healthcare has raised $50 million in an all-equity Series B funding round led by Khosla Ventures, with participation from Alpha Wave. The investment values the company at $300 million — tripling its valuation from 18 months ago — and brings its total funding raised to over $120 million.

The capital will be used to scale Even Healthcare's hospital network across Bengaluru. Having opened two hospitals in the city, the startup plans to open five more over the next six months. The expansion forms part of a broader drive across India to modernise medical infrastructure and deliver high-quality patient outcomes.

Reimagining healthcare delivery

Traditional private hospitals in India often rely on fee-for-service structures, where doctors and management earn more when patients undergo additional diagnostic tests or surgical procedures. Even Healthcare is changing this dynamic by placing its clinical staff on fixed salaries, decoupling compensation from procedure volume. Doctors and hospital managers can earn bonuses linked to verified patient health outcomes, while every employee receives equity in the business.

Even Healthcare co-founder Mayank Banerjee said the company decided to build its own hospitals after observing that partner facilities frequently recommended unnecessary interventions. The company secures 20-year leases on building facilities before outfitting them with medical technology. Both operational hospitals in Bengaluru achieved operational profitability, excluding depreciation, within their first year.

Scale, metrics and growth plans

Since its launch in 2021, Even Healthcare has grown its team to 650 staff members, including 300 full-time doctors. The startup serves around 250,000 members and has recorded over 750,000 patient interactions to date.

Khosla Ventures founder Vinod Khosla said combining financing, technology, and care delivery creates a compelling model that rewards patient recovery over service volume. Khosla Ventures partner Jai Sajnani added that the initial performance of Even Healthcare's hospitals provided strong conviction to lead the round.

Regulatory filings show that Even Healthcare generated ₹272 million ($2.86 million) in revenue in fiscal 2025, alongside a net loss of ₹902 million ($9.50 million) as it prioritises rapid physical expansion. The startup restructured its team in August, parting ways with around 350 staff while providing severance, extended health insurance, and accelerated equity vesting. Company leadership noted that while the business could achieve short-term profitability by curtailing expansion, the priority remains building out critical healthcare infrastructure across India.