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Bengaluru-based health-tech startup Even Healthcare has raised $30 million (around Rs 252 crore) in a series A funding round initiated by California -based American venture capital firm Khosla Ventures, bringing its total funding till date to $50 million.

Some other firms who participated in the round include US-based Founders Fund, 8VC and Lachy Groom.

The latest funding effort comes two years after the company raised $15 million from Alpha Wave and Aspada. Similarly, in 2021 Even Healthcare raised $5 million in seed funding from Khosla Ventures.

The startup said, it is planning to use the new capital to launch hospital operations, improve patient care and resource processes.

Even Healthcare, which has been providing its valuable services in the healthcare field since 2020, offers unlimited free consultations, diagnostic tests, and cashless hospitalization to its members through its in-house clinical team of clinics and insurance partners.

The startup founded by the trio Mayank Banerjee, Matilde Giglio, and Alessandro Ialongo, works totally different from the Indian traditional 'fee-for-service' style by 'aligning health outcomes with profitability' and thus helps to avoid issues of delayed treatment and financial hurdles.

Having a membership base of hundreds of thousands, the startup with its team of 300 employees, has generated $28 million revenue in one and a half year after its commercial launch.

"Our health plans have grown aggressively in both B2B and B2C segments, with a 95% customer retention rate. This positions us to deliver strong results in the years ahead," Giglio, said in a statement.

In order to reduce risks of being hospitalized through 'early risk profiling and managed care,' it is planning to open three secondary-care-focused hospitals in Bangalore.

"Expanding our hospital, clinic, and diagnostic networks while strengthening our team of doctors will enable us to reduce medical costs, enhance patient experience, and increase the overall value our members receive from the health system," Ialongo, said adding that they will continue to invest in their 'delivery systems, technology, and customer-friendly products.'

Meanwhile, Khosla Ventures expressed excitement over their decision to partnership with Even Healthcare.

 "Modernized healthcare is essential to any country. Even is bringing high-quality, affordable care to one of the world's largest populations, and we're excited to partner with them as they boldly reimagine healthcare for India," Vinod Khosla, founder of Khosla Ventures, said.

The company with its 'holistic, preventative care model' has been trying to resolve the critical gap in India's healthcare system which has one of the highest medical inflation rates in Asia.

Through its latest AI-powered health assistant 'Even Steven' Even Healthcare said, it is planning to leverage technology to scale its solutions. The startup also provides medical assistance via WhatsApp.