American venture capital firm Khosla Ventures, set up by entrepreneur Vinod Khosla, has doubled down on Bengaluru-based managed healthcare platform Even Healthcare as a part of its Series B funding.
The Menlo Park, California-based investor has led a $50 million (about Rs 475 crore) primary capital infusion in Even Healthcare. The funding round tripled the company’s post-money valuation to $300 million.
Alpha Wave Global, an existing investor which led Even Healthcare’s previous round announced at the beginning of the year, also participated in the new exercise.
The startup said Monday it plans to use the capital to open five new Even hospitals across Bengaluru over the next six months, starting with Indiranagar.
“We stay with our members from their first consultation to the hospital bed and back home, and our economics depend on keeping them healthy,” said Mayank Banerjee, co-founder, Even Healthcare. “Two hospitals profitable in record time and readmissions below 1% tell us the model works. This round is about building it at the scale of a city: an Even hospital close to every family in Bengaluru, and then in every major city in India.”
Founded in 2021 by Banerjee, Matilde Giglio, and Alessandro Ialongo, Even Healthcare is a managed-care provider offering free consultations, diagnostic tests, and cashless hospitalization, supported by a vertically integrated “payvider” approach that prioritizes preventative and outcome-led care. The company launched its first hospital in Bengaluru in May 2025, growing into a full-stack system that combines primary, preventive, and hospitalization care under one model.
It plans to scale its model where doctors are rewarded when patients get better, not when hospitals do more from single facilities to a network that covers the city.
“Most healthcare companies optimize one piece of a fragmented system. Even is attempting something much more ambitious: integrating the financing, technology and delivery of care so that the system is rewarded for better health outcomes rather than greater utilisation. The clinical and economic results so far give us conviction that this can become an important new model for healthcare in India and beyond,” said Vinod Khosla, founder of Khosla Ventures.
Khosla Ventures first invested in Even Healthcare in 2021, leading its $5 million seed funding round. In November 2022, the hospital company raised $15 million from Alpha Wave, Aspada (now Lightrock), other existing investors, and individual investors such as Palo Alto Networks CEO Nikesh Arora, CRED CEO Kunal Shah, and DST Global partner Tom Stafford.
In October 2024, the company raised $30 million in a Series A round led by Khosla Ventures, with participation from Founders Fund, 8VC, and Lachy Groom, among others. In January 2026, it secured $20 million (about Rs 180 crore) in an extended Series A round, led by existing investors Lachy Groom and Alpha Wave, and joined by new investor Sharrp Ventures.