Khosla Ventures backs an Indian hospital model built on fewer procedures, not more
Even Healthcare, an Indian hospital startup, raised $50 million in an all-equity Series B round led by Khosla Ventures, with Alpha Wave participating, at a $300 million valuation, triple its value eighteen months earlier. Founded in 2021 by Mayank Banerjee, Matilde Giglio and Alessandro Ialongo, it runs two hospitals in Bengaluru and plans five more within six months, while posting a fiscal 2025 net loss of ₹902 million.
The model is built on subtraction. Doctors earn fixed salaries, managers are not paid per procedure, and Even claims savings for insurers above ₹500 million from tests and hospital days that never happen. The same logic reaches the company's own books: Banerjee says Even could turn profitable within months by halting expansion spending, yet the surplus goes into growth, after about 350 jobs were cut in August 2026.
Source: TechCrunch Startups · October 19, 2026