Even Healthcare in talks to raise $50 million from Khosla Ventures, Alpha Wave

Even Healthcare, which offers subscription-based healthcare services and insurance, is in talks to raise about $50 million in a Series B funding round led by its existing investor Khosla Ventures, people aware of the matter told ET. The round will likely be at a valuation of about $300 million, nearly double that of $153 million it saw in its last funding round in January.

Existing investor Alpha Wave Global will also participate in this round, sources said. Alpha Wave co-led the second tranche of Even’s Series A round in January this year, along with Lachy Groom, where the company raised $20 million. The company had raised $30 million in the first tranche of its Series A in October last year.

The company decline to comment on the fundraise.

Khosla Ventures first invested in the company in its $5-million seed round in 2021, and has been part of its subsequent funding rounds. As per Tracxn, the company has so far raised $72.5 million across five funding rounds. Other investors on its captable are Sharrp Ventures, Lightrock, Rainmatter, and 8VC, among others.

Among external investors, Lightrock holds the largest stake at 15.7%, followed by Khosla Ventures at 10.4%, and Alpha Wave at 7.2%, Tracxn data showed.

Even offers a healthcare subscription that allows users to access their in-house team of doctors for virtual and in-clinic consultations, diagnostics, and other tests. The Bengaluru-based startup currently covers around 50,000-60,000 members in the city and 200,000-300,000 patients across India through individual and corporate health plans.