Healthtech start-up Even raises an additional funding of $15 million from AlphaWave and Aspada

Bengaluru-based healthcare start-up Even has raised an additional funding of $15 million from new investors Alpha Wave and Aspada (Lightrock). The company’s existing investors include Khosla Ventures, Founders Fund, Lachy Groom, Nikesh Arora (CEO of Palo Alto Networks), Kunal Shah (CEO of CRED), and Tom Stafford (Partner at DST Global).
 
Even raised $5 million in a seed round in July last year. The additional funding will be utilised to expand personalised and preventive care services in India. It wants to specifically focus on curing illnesses like PCOS, diabetes, obesity, etc. 
 
Commenting on the development, Matilde Giglio, co-founder and CEO of Even, “Right from preventive care to diagnostics to hospitalisation, our members will be assured of our support throughout their healthcare journey. We continue to stay committed to making managed care a reality in India and the support from our investors will help us improve our reach within the country,” he said. 
 
Even was founded in 2020 by Mayank Banerjee, Matilde Giglio, and Alessandro Davide Ialongo. It aims to fill the gaps in the insurance sector of India and build patient-centric and trustworthy healthcare delivery models. 
 
One of the things it ensures is that insurers, hospitals and patients don’t work in silos. Additionally, the medical team of Even aims to provide preventive healthcare services to ensure they don’t reach the point of critical illnesses, the company said in a statement.

“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.

According to a report by Invest India, the Indian healthtech industry was valued at $1.9 billion and it is expected to reach $5 billion by 2023, growing at a CAGR of 39 per cent.

Some of the companies it competes in India with include ArtiVatic, MediAssist, and a few more.

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