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Bengaluru based managed care provider Even Healthcare has successfully raised $20 million in fresh funding, marking a significant milestone in the company’s rapid growth trajectory. The funding round was led by existing investors Lachy Groom and Alpha Wave, with participation from new investor Sharrp Ventures. This capital infusion brings the company’s total funding to $70 million and has more than doubled its valuation within the span of a single year.
Pioneering the Payvider Model in Indian Healthcare
Founded in 2020 by Mayank Banerjee, Matilde Giglio, and Alessandro Ialongo, Even Healthcare has established itself as a pioneer in India’s evolving healthcare landscape. The company operates through an innovative vertically integrated managed care model, offering subscription based healthcare services that encompass consultations, diagnostic testing, and cashless hospitalization through its proprietary clinical infrastructure and partner network.
Even Healthcare’s distinctive approach centers on what the company terms a “payvider” model—a portmanteau of payer and provider—which represents the first implementation of this integrated healthcare delivery system in India. This model combines insurance mechanisms with direct healthcare provision, creating aligned incentives that prioritize patient recovery and long term health outcomes over transactional volume.
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Exceptional Operational Performance and Clinical Outcomes
The fresh capital will primarily support the expansion of Even Healthcare’s hospital network in Bengaluru, where the company has demonstrated remarkable operational efficiency. The startup’s first hospital facility, launched in May 2025, achieved operating break even in less than six months—a timeline significantly shorter than the industry standard of two to three years.
The clinical outcomes reported by Even Healthcare validate this approach. The company has documented zero unplanned thirty day readmissions across more than 350 surgical procedures, with no reported post-operative infections. Furthermore, the average length of hospital stays has been reduced by approximately 40 percent, while over 200 hospitalizations have been successfully prevented through monitored at-home recovery protocols.
Strategic Expansion Plans and Market Impact
The company achieved a 92 percent online revenue retention rate by September 2025. In March 2025, Even Healthcare completed its first employee stock ownership plan buyback valued at approximately $500,000, an uncommon achievement for a healthcare startup at this developmental stage.
Even Healthcare’s expansion plans include opening additional hospital facilities in Bengaluru, with intentions to establish 25 facilities over the next three years. These hospitals are designed as smaller, forty to fifty bed facilities integrated with the company’s digital health ecosystem.
This funding round positions Even Healthcare to accelerate its mission of transforming healthcare delivery in India through coordinated, outcome focused care.
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