Bengaluru-based healthcare startup Even Healthcare is set to raise about ₹208 crore, or around $22 million, in a Series B round. The round is led by Khosla Ventures, with several other investors also set to take part.
The fundraise comes at an important stage for the company. Even Healthcare has built a healthcare model based on membership, primary care, diagnostics and hospital services. The new capital can give the company more room to build this model and reach more patients.
According to company filings, the proposed round has a total size of ₹208.24 crore. The board has approved the issue of 1,91,228 compulsorily convertible preference shares at ₹10,889.91 per share. The share issue forms the main part of the new fundraise.
Khosla Ventures Leads the Round
Khosla Ventures will provide the largest share of the new capital. The venture capital firm is set to put ₹145 crore into Even Healthcare.
Other investors will also join the round. DLB Ventures will invest ₹38.88 crore, while Simon Fiduciaria will put in ₹22.67 crore. ADBEEV LLP and Better Capital will each invest ₹1 crore.
This gives Khosla Ventures a clear lead in the round. The investor has backed Even Healthcare before, so the fresh investment also shows continued confidence in the company and its long-term healthcare model.
The proposed round is also notable because earlier reports had suggested that Even Healthcare was in talks for a much larger $50 million fundraise. The current filing points to a round of about $22 million. This means the final amount is much lower than the figure that had earlier appeared in reports.
Even Healthcare Could Reach a $300 Million Valuation
The new fundraise is expected to value Even Healthcare at around $300 million, based on estimates from Entrackr.
That would mark a major rise from the valuation linked to its earlier round in January 2026. At that time, the company raised $20 million, led by Lachy Groom and Alpha Wave. Reports placed its valuation at about $153 million after that round.
A move toward a $300 million valuation would show how quickly the company has grown in the eyes of its investors. However, the valuation estimate is not a company-confirmed figure. It comes from outside analysis of the deal structure.
A Healthcare Model Built Around Membership
Even Healthcare was founded in 2020. The Bengaluru startup follows a membership-based healthcare model.
The idea is simple. Instead of a patient using separate services from different providers, Even aims to bring several parts of healthcare under one system. Its services cover areas such as primary care, diagnostics, hospital care and post-discharge recovery.
This model places more focus on care over a longer period. A patient can use the company’s services for different stages of treatment rather than visit a different provider each time.
The company has also moved beyond a purely digital healthcare model. Its business includes physical hospital care, which gives Even more control over the patient experience and the delivery of medical services.
The Company Has Raised Money Before in 2026
The proposed Series B is not Even Healthcare’s first major fundraise this year.
In January 2026, the company raised $20 million in a round led by Lachy Groom and Alpha Wave. That deal came only a few months before the proposed ₹208 crore Series B.
The quick return to the funding market shows that Even Healthcare remains focused on expansion. Healthcare can require large amounts of capital because companies must spend on doctors, hospitals, technology, equipment, patient care and support systems.
For a company such as Even, fresh capital can help it build more capacity before it reaches a larger scale.
Revenue Grew Fast, but Losses Also Rose
Even Healthcare has shown strong revenue growth, although its financial results also show high costs.
For FY25, the company’s revenue reached ₹25.43 crore. That was more than four times the ₹6.24 crore it reported in FY24.
At the same time, the company posted a loss of ₹90.15 crore in FY25. Its loss in FY24 stood at ₹72.40 crore.
This means the company is still far from profitability. Its revenue has grown at a fast pace, but its expenses remain high as it builds its healthcare platform.
The FY25 numbers are important because they show the stage of the business. Even Healthcare has a small revenue base compared with the size of its new fundraise, while its losses remain much higher than its annual revenue. The company has not yet filed its FY26 financial results with the Registrar of Companies.
Where the New Capital Could Help
Company filings state that the new funds will be used for the company’s business funding requirements. No detailed public split has been given for each area of spending.
The money could give Even Healthcare more financial strength as it builds its healthcare network. A larger capital base can help a healthcare startup pay for new facilities, technology, staff and patient services.
The company’s model also requires a mix of digital tools and physical healthcare assets. That can make expansion costly, but it can also give the company greater control over the quality and cost of care.
The success of this strategy will depend on how fast Even can grow its revenue while keeping its costs under control.
Why Khosla Ventures’ Role Matters
Khosla Ventures is not a new name in Even Healthcare’s story. The firm has backed the company in earlier rounds as well.
Its decision to lead the latest ₹208 crore round gives the fundraise added importance. Khosla Ventures is putting ₹145 crore into the company, which makes up most of the proposed capital.
For Even Healthcare, an existing investor taking such a large part of the new round can provide both capital and a strong vote of confidence.
At the same time, the participation of DLB Ventures, Simon Fiduciaria, ADBEEV LLP and Better Capital gives the round a wider investor base. Their participation adds to the support for Even’s healthcare model.
What Comes Next for Even Healthcare
The next phase will be about turning fresh capital into stronger business results.
Even Healthcare has already shown that it can grow its revenue at a fast pace. The bigger test now is whether it can build a large healthcare business while reducing the gap between revenue and losses.
The proposed ₹208.24 crore Series B gives the company fresh funds at a key point in its journey. With Khosla Ventures set to lead the round, and other investors also taking part, Even has a strong financial base for its next phase.
The company now needs to show that its membership model can work at a much larger scale. It also needs to prove that its hospital and care network can support healthy growth over time.
For the wider Indian health-tech sector, the deal is another sign that investors still see value in companies that aim to combine healthcare access, technology and direct patient care.
Even Healthcare’s journey is still at an early stage. But with ₹208 crore in fresh capital, a reported $300 million valuation, and strong backing from Khosla Ventures, the company is entering its next phase with much greater financial support.
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