Even Healthcare raises $20 Mn led by Lachy Groom and Alpha Wave

Bengaluru-based managed care provider Even Healthcare has raised $20 million in a fresh funding round led by existing investors Lachy Groom and Alpha Wave, with participation from Sharrp Ventures. 

The new round comes within 15 months for Even Healthcare which had raised $30 million in Series A funding round in October 2024.

With this round, the company’s total funding has reached $70 million, while its valuation has more than doubled over the past year.

The proceeds will be used to expand Even Healthcare’s hospital footprint in Bengaluru and scale its managed-care hospital model. 

Founded in 2020, Even Healthcare operates a membership-based model combining primary care, diagnostics, and hospital services.

Unlike traditional hospital systems, Even’s approach focuses on continuity of care and patient recovery rather than maximising admissions and length of stay. Care teams remain accountable across consultations, diagnostics, hospitalisation, and post-discharge recovery at home.

Alongside the fundraise, Even said its first hospital achieved operating break-even within six months of launch. Since launching its first hospital in May 2025, Even claims to have tracked outcomes across its network, reporting no unplanned 30-day readmissions across more than 350 surgeries, zero post-operative infections in the cohort, and over 200 hospitalisations avoided through monitored home recovery. Average length of hospital stay was reported to be around 40% lower than comparable settings.