Total amount raised
$70.9 Million
Latest funding date
10/01/2024
Location
Even has raised funding over 8 rounds, with the latest being a Series A round involving investors such as Alpha Wave Global and Lachy Groom. The company is backed by a total of 25 investors, including Sharrp Ventures.
Keep reading to explore the intricacies of Even's fundraising journey and the investors backing this innovative health-tech platform.
What Is Even?
Even is a health-tech company based in Bangalore, Karnataka, India. It operates in the health care, health diagnostics, and hospital industries, providing services that include unlimited doctor consultations, free diagnostic tests, and optional cashless health insurance.
Founded in 2019, Even partners directly with top hospitals across the country. The company has an employee count ranging from 251 to 500, and it aims to simplify the insurance process, making it transparent and stress-free for customers.
How Much Funding Has Even Raised?
- Series A
- Amount Raised: USD 5,000,000
- Date: July 2021
- Lead Investors: Khosla Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Initial development, market research, and early-stage operations.
- Series A
- Amount Raised: USD 15,000,000
- Date: November 2022
- Lead Investors: Alpha Wave, Aspada
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Scaling operations and expanding services.
- Convertible Note
- Amount Raised: USD 15,000,000
- Date: November 2022
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Scaling operations and expanding services.
- Grant
- Amount Raised: USD 500,000
- Date: February 2023
- Lead Investors: Mission Daybreak
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Enhancing patient care and resource processes.
- Series A
- Amount Raised: USD 30,000,000
- Date: October 2024
- Lead Investors: Khosla Ventures, Founders Fund, 8VC, Lachy Groom
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Launching hospitals in Bengaluru and scaling patient care services.
Total Amount Raised: USD 50,500,000. Current Valuation: Not publicly disclosed.
Key Investors
- Khosla Ventures
- Details: Khosla Ventures is a prominent venture capital firm founded by Vinod Khosla. The firm is known for investing in early-stage technology companies.
- Investment Focus Areas: Technology, Healthcare, Clean energy
- Notable Investments: DoorDash, Square, Impossible Foods
- Mission Daybreak
- Details: Mission Daybreak is an organization focused on funding innovative solutions for social impact. They have been involved in various initiatives aimed at improving societal outcomes.
- Investment Focus Areas: Social impact, Technology, Education
- Notable Investments: Not publicly disclosed
- Founders Fund
- Details: Founders Fund is a venture capital firm that invests in companies building revolutionary technologies. It was founded by Peter Thiel and other prominent entrepreneurs.
- Investment Focus Areas: Technology, Healthcare, Aerospace
- Notable Investments: SpaceX, Palantir Technologies, Airbnb
- 8VC
- Details: 8VC is a venture capital firm that focuses on investing in transformative technology companies. It was co-founded by Joe Lonsdale.
- Investment Focus Areas: Technology, Healthcare, Logistics
- Notable Investments: Wish, Oscar Health, Guardant Health
- Lachy Groom
- Details: Lachy Groom is an angel investor and former executive at Stripe. He has invested in numerous early-stage startups.
- Investment Focus Areas: Technology, Fintech, SaaS
- Notable Investments: Notion, Figma, Rippling
What's Next for Even?
Even is poised to capitalize on the burgeoning Indian healthcare market, valued at $372 billion and growing at a CAGR of 22%. The company plans to launch hospitals in Bengaluru, expand into metro and tier-2 cities, and enhance patient care services. These opportunities could significantly boost their market presence and revenue.
Given their rapid growth and ambitious expansion plans, future fundraising rounds seem likely. The company has already raised $50 million, and additional funds could support further technological advancements and service enhancements. However, challenges such as competition from traditional insurers and maintaining high-quality care across new locations may arise.
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