Healthtech Startup Even Secures $15 Mn Funding From Alpha Wave, Lightrock, Others

SUMMARY

Even said that including the current fundraising, it has secured $20 Mn in aggregate

The startup informed that its subscription-based platform gives users access to a set of doctors and diagnostic tests. It also offers INR 1 Cr worth hospital covers to consumers

Its cap table includes Khosla Ventures, Founders Fund, Lachy Groom, Palo Alto Networks’ Nikesh Arora, CRED’s Kunal Shah, and DST Global’s Tom Stafford, among others

Healthcare startup Even has secured $15 Mn in a fresh funding round led by Alpha Wave and Aspada’s Lightrock.

Even said that including the current fundraising, it has secured $20 Mn in aggregate.

Founded in 2020 by Mayank Banerjee, Matilde Giglio and Alessandro Ialongo, Even is a full-stack healthcare startup. It offers varied healthcare services such as doctor consultations, and hospitalisations.

Even said that its subscription-based platform gives users access to a set of doctors and diagnostic tests. It also offers a hospitalisation cover to consumers of up to INR 1 Cr.

“Even is a revolutionary model that integrates care delivery and financing, ensuring that members make the best health decisions for themselves with the support of high-quality doctors incentivized to deliver patient outcomes,” said Tejasvi Ravi, healthcare lead at Lightrock India.

Even said that every customer gets a personal healthcare team including doctors, specialists and healthcare managers that helps dealing with specific diseases, and elective health issues such as quitting smoking and alcohol, etc, and even such services are extended during emergency situations.

Explaining its processes, Even said that the startup builds primary healthcare programs through internationally-accepted protocols to improve clinical outcomes. With this, it manages to reduce OPD and IPD costs.

“Upon onboarding and throughout a member’s journey, our doctors collect and study important information about members’ health and suggest ways to mitigate risks. Comorbidities like diabetes, high cholesterol, high BP and obesity are quite common in India and are uncontrolled due to reluctance in visiting a doctor and not getting health checks,” said Matilde Giglio, cofounder of Even.

Even plans to use funds to scale its team of doctors that are helping cure comorbidities such as diabetes, PCOS and obesity. It claims to have a base of 20K+ customers.

In 2021, Even secured $5 Mn in its seed funding round.

Its cap table includes Khosla Ventures, Founders Fund, Lachy Groom, Palo Alto Networks’ Nikesh Arora, CRED’s Kunal Shah, and DST Global’s Tom Stafford, among others.

According to an Inc42 report, the overall Indian healthtech market is estimated to become a $21 Bn space by 2025. The report further states that the healthtech startups concertedly bagged around $700 Mn in the first half of 2022 against $800 Mn in H1 2021.

CureBay raising $6.1 Mn, Eka Care bagging $15 Mn and 5C Network securing nearly $4.6 Mn are some of the funding deals that happened in the Indian healthcare startup space.