Even Healthcare Secures $50 Million to Disrupt Indian Hospital Economics

The capital injection brings the startup’s total funding to over $120 million, with participation from Alpha Wave. This infusion allows Even to aggressively scale its proprietary hospital network in Bengaluru, where it plans to open five additional facilities within the next six months. By moving from a partner-reliant model to owning and operating its own hospitals, the company gains direct control over costs and clinical protocols.

Co-founder Mayank Banerjee noted that traditional Indian hospitals frequently prioritize volume, leading to excessive testing and prolonged stays. In contrast, Even employs doctors on fixed salaries, decoupling compensation from procedure counts. This strategy has yielded early operational profitability at its two existing Bengaluru locations, excluding depreciation. The startup reports an unplanned readmission rate of under 1%, significantly lower than the industry benchmark of 8% to 15%.

Despite these operational gains, the company remains in a growth phase, recording a net loss of ₹902 million in fiscal 2025. Following a restructuring in August that saw 350 staff departures, the firm currently employs 650 people, including 300 full-time physicians. With 250,000 members and over 750,000 patient interactions to date, the startup continues to prioritize infrastructure expansion over immediate bottom-line profitability.