Healthtech startup Even Healthcare has raised back-to-back funding rounds this 12 months, however the recent capital has not stopped the corporate from shedding round 350 staff because it phases down its insurance coverage enterprise and shifts its focus to a hospital-led healthcare mannequin.
Even Healthcare has laid off almost 30–35% of its workforce, or round 350 staff, based on 4 sources acquainted with the matter.
“The job cuts have impacted a number of groups and are available as Even appears to be like to scale back its price base. The corporate can also be restructuring components of its enterprise because it shifts sources in the direction of its hospital-led healthcare mannequin,” mentioned one of many sources requesting anonymity.
The layoffs come at a tough time for the Bengaluru-based startup, which is within the means of elevating $50 million in a spherical led by current investor Khosla Ventures. It has already raised $21 million within the first tranche, with the remaining quantity anticipated to return in a subsequent tranche. Entrackr exclusively reported the funding spherical and its breakup on Wednesday.
“Sources mentioned the restructuring is geared toward bringing down prices and enhancing operational effectivity,” mentioned the particular person cited above.
In line with sources, Even has been shifting deeper into healthcare supply after beginning with a subscription-led mannequin. The agency launched its first hospital in Bengaluru and is seeking to broaden its hospital community.
Nonetheless, the enlargement has include a excessive money burn. Even’s income from ops rose to Rs 27.2 crore in FY25 from Rs 8.3 crore in FY24, whereas its losses widened to Rs 90.2 crore from Rs 72.4 crore in the identical interval.
The corporate had raised $20 million in January 2026 from Lachy Groom and Alpha Wave International. This adopted a $30 million funding spherical in 2024, taking the full capital raised by Even to greater than $70 million.
The proposed $50 million spherical, subsequently, comes simply months after its earlier fundraise. The newest layoffs counsel that the corporate is now seeking to tighten spending whereas it prepares for its subsequent capital infusion.
Even’s newest restructuring factors to the challenges of constructing a capital-intensive healthcare supply enterprise whereas managing the economics of its earlier mannequin. Because the agency reshapes its operations, the important thing query might be whether or not the brand new strategy can enhance unit economics and create a extra sustainable path to progress. The result will even decide how successfully Even can translate recent investor backing right into a enterprise that requires much less capital to help every stage of its enlargement.
