Even Healthcare Lays Off 350 Employees Amid Hospital-Led Pivot: Report
Healthtech startup Even Healthcare has reportedly laid off around 350 employees as it phases down its insurance business and redirects…
Even Healthcare, a Bengaluru-based health tech startup, has announced the layoff of approximately 350 employees. The reduction, which affects around 30-35% of the company's workforce, is a result of the startup's shift towards a hospital-led healthcare model. The restructuring is being carried out to cut costs and enhance operational efficiency, according to sources familiar with the situation.
The company, founded in 2020 by Mayank Banerjee, Matilde Giglio, and Alessandro Ialongo, primarily offers a membership-based healthcare service that includes primary care, diagnostics, hospital services, and post-discharge support. Members pay a monthly or annual subscription fee for these services, which also include health insurance plans for hospitalization.
Even Healthcare has recently launched its first multispeciality hospital in Bengaluru, which reportedly achieved operating break-even within six months of its opening in May 2025. The startup has since been expanding its hospital footprint in the city. In a recent funding round, Even Healthcare secured $20 Mn (approximately ₹180.5 Cr) led by existing investors Lachy Groom and Alpha Wave Global, with additional participation from Sharrp Ventures.
The company has raised over $90.45 Mn in total funding since its inception from investors such as Khosla Ventures, Sharrp Ventures, Alpha Wave, Lachy Groom, Nithin Kamath, and 8VC. Despite a 15.3% increase in the net loss to ₹83 Cr in FY25 from ₹72 Cr in FY24, Even Healthcare's operating revenue grew threefold to ₹25 Cr in FY25 from ₹8 Cr in the previous year.
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