Even raises $22M Series B led by Khosla, valuing it at $300M
What's the deal? Bengaluru-based Even HealthcareDealroom has a profile for this one. Try Dealroom → is raising Rs 208.24 crore ($22 million) in a Series B round led by Khosla Ventures. The company's board passed a resolution to issue 191,228 compulsorily convertible preference shares at Rs 10,889.91 each, according to regulatory filings.
Who's in? Khosla Ventures anchored the round with Rs 145 crore. DLB Ventures added Rs 38.88 crore and Simon FiduciariaDealroom has a profile for this one. Try Dealroom → Rs 22.67 crore, while ADBEEV LLP and Better CapitalDealroom has a profile for this one. Try Dealroom → each put in Rs 1 crore.
What does Even do? Founded in 2020, Even runs a membership-based healthcare model. Members get primary care, diagnostics, and hospital services through one subscription, with care teams following patients from consultation through post-discharge recovery. Mayank Banerjee is co-founder and chief executive.
Why now? This is Even's second raise in 2026, following a $20 million round in January led by Lachy Groom and Alpha WaveDealroom has a profile for this one. Try Dealroom →. Khosla has backed the company since its $5 million seed round in 2021. Entrackr estimates the new round values Even at about $300 million, nearly double its January valuation.
By the numbers. Even's revenue grew more than four times to Rs 25.43 crore in FY25, up from Rs 6.24 crore. But its FY25 loss widened 24.5% to Rs 90.15 crore, from Rs 72.40 crore — meaning Even lost about Rs 3.5 for every Rs 1 it earned.
What could go wrong? Losses are rising alongside revenue, and the filed round came in well below the roughly $50 million a July Mint report said Even was seeking. A raise landing at under half its rumoured size can signal the market pushed back on price.
The signal: At $22 million, Even's Series B sits in the 32nd percentile by deal size — a modest raise for a company doubling its valuation. The gap between the rumoured and filed amounts, paired with steep burn, will make Even's forthcoming FY26 numbers the figure to watch.
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