Indian personalised healthcare provider Even scoops $15M funding

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Personalised healthcare provider Even has received $15 million more in funding from new investors Alpha Wave and Aspada (Lightrock), bringing its total funding raised since July to $20 million.

WHAT IT DOES

Established in 2020, the Bengaluru-headquartered startup offers a monthly subscription service which includes access to a 24/7 personal care team of doctors, specialists and care managers. Its experienced clinical team takes into account a patient’s unique health profile and lifestyle to develop a personalised managed care programme which targets and manages risks early before they become critical illnesses and require hospitalisations. 

Available on both web and iOS platforms, Even also offers online consultations and provides access to free prescribed tests across the country.

WHAT IT’S FOR​

Its fresh funds will be used to “strengthen” its clinical team of doctors so they can scale their provision of preventive care for growing comorbidities such as diabetes, PCOS, and obesity.

These comorbidities, said Even co-founder Matilde Giglio, are “often uncontrolled” due to the reluctance of patients to visit a doctor and not getting health checks unless symptoms occur. This is evidenced by about “50% of [Even] users [who only] found out for the first time that they had diabetes during our onboarding health check-up,” he added.

Through their primary care programmes, both OPD and IPD costs can be reduced while insurers can be now more willing to cover a patient cohort whose health is “meaningfully managed.”

MARKET SNAPSHOT

Similar health tech startups in India that are offering personalised care programmes on a subscription or membership basis have also attracted investments early this year, such as Zyla and MediBuddy.

Another Indian startup that runs a hybrid model of care delivery also just closed a funding round last week. CureBay runs a network of e-clinics in India which offers a range of health services such as teleconsultation and medicine delivery.

ON THE RECORD

According to Even, they are creating a “blueprint for healthcare” in India where healthcare providers can “achieve the best outcomes at the lowest cost without ever compromising the quality of care.” 

“For us, Even is about giving members access to complete healthcare and building trust like a family doctor. 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,” Giglio said.

“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,” Tejasvi Ravi, Healthcare lead at Lightrock India, also commented.

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