Bengaluru-based healthcare startup Even Healthcare has secured Rs 169 crore (about $20 million) in a new funding round led by venture capital firm Khosla Ventures.
Khosla Ventures led the round with Rs 83.4 crore (about $10 million), followed by Pathfinder and Mercury Fund with Rs 21.3 crore and 26.9 crore, respectively. The rest was invested by Simon Fiduciaria, DLB Ventures, Lex Italia, 8 VC, Rainmatter fintech, and others.
As per the filing sourced from the Registrar of Companies, Even’s board has authorised the issue of 2,17,589 preference shares at a price of Rs 7,762 each in order to raise Rs 169 crore, reports Entrackr.
As part of a separate resolution filed by the startup, the company has also increased the number of employee stock options (ESOPs) in its ESOP pool to 1,35,000.
To date, the company has raised $40 million, including $15 million from Alpha Wave and Aspada in November 2022, and $5 million from Khosla Ventures in 2021, the report mentioned.
Even Healthcare provides subscription-based plans that cover diagnostic, consultation, and hospitalisation costs of up to Rs 50 lakh. According to the company, it only works with hospitals who promise treatment for its customers in exchange for a regular payment.
The startup was launched by Mayank Banerjee, Matilde Giglio and Alessandro Lalongo in 2020. It offers personalised managed care programmes and provides Even cards which can be used to pay bills at its partner hospitals and labs
In July, the company launched its artificial intelligence (AI) health chatbot, Even Steven, which offers verified health advice on any topic a user can think of.