Even Healthcare is a healthcare service platform that has secured $20 million in its fresh funding round. This round was led by Khosla Ventures and had the participation of other investors including Mercury Fund and Pathfinder. Khosla Ventures led the round with Rs 83.4 crore followed by Mercury Fund with Rs 26.9 crore and Rs 21.3 crore came from the Pathfinder. The remaining amount was invested by 8 VC, Lex Italia, Simon Fiduciaria, Rainmatter Fintech, and others.
The board has approved a resolution to allot 2,17,589 preference shares at an issue price of Rs 7,762 each to raise 20 million USD. According to the company filing, the startup will use these fresh proceeds to scale up operations, enhance its services, and market expansion. The startup provides subscription-based plans to cover consultations, diagnostics, and hospitalization costs up to Rs 50 lakh. The company provides a healthcare and medical service platform that uses various technologies to offer its customers with medical advice from professionals. The startup data intelligence platform, the kredible mentioned that the company had a post-allotment valuation of 91 million USD.
The healthcare platform provides personalized care programs, unlimited consultations, diagnostics, and an “Even card” to pay bills at its partner labs and hospitals. Even has secured over $40 million across two rounds to date, including $15 million raised during a Series A funding round led by Alpha Wave and Aspada in 2022. The startup recently expanded its employee stock option pool size worth 12 million USD. The company claims to partner with hospitals that guarantee proper care of members in exchange for recurring payments. The company faces competition from other app-based personal care platforms such as Religare, Navi, and Innovaccer.
This investment will enable the company to expand its network across India and in the global market. The startup data platform, Traxcn mentioned the annual revenue for the firm to be around Rs 92.3 lakh in FY23. The firm also secured $5 million from Khosla Ventures in the seed funding round. Even healthcare intends to use this fresh investment to expand in the healthcare market and advance its technology. This investment shows the trust of Khosla Ventures in Even’s market potential and business model. The development came just when the healthcare sector saw an increased investor interest in the startup ecosystem.
Conclusion:
Even is a healthcare startup offering insurance, healthcare, and medical solutions. The startup got fresh capital of $20 million from Khosla Ventures. The funding round had participation from other investors including Mercury Fund, Pathfinder, 8 VC, Simon Fiduciaria, Lex Italia, Rainmatter Fintech, and others. The company plans to use this amount to scale up its operations, hire teams for business development, expand its services, and advance its technology. The startup claims to have secured over 40 million USD since its inception. The company’s board approved the resolution to allot 2,17,589 p preference shares at an issue price of Rs 7,762 per share to raise 20 million USD. The company competes with companies such as Navi and Religare.
