Even Healthcare Lays Off 350 Employees Amid Hospital-Led Pivot: Report

Even Healthcare has laid off around 350 employees, or 30-35% of its workforce, as it phases down its insurance business.

The layoffs come despite the healthtech startup raising $20 Mn in fresh funding earlier this year as it redirects resources towards a hospital-led healthcare model.

The job cuts, aimed at reducing costs and improving operational efficiency, affected multiple teams.

The job cuts affected nearly 30-35% of the Bengaluru-based startup’s workforce and spanned multiple teams, Entrackr reported, citing four people familiar with the matter.

“The job cuts have impacted multiple teams and come as Even looks to reduce its cost base. The company is also restructuring parts of its business as it shifts resources towards its hospital-led healthcare model,” one of the sources was quoted as saying.

The restructuring is aimed at bringing down costs and improving operational efficiency, the report added.

Even Healthcare declined to comment on Inc42’s queries on the development.

Founded in 2020 by Mayank Banerjee, Matilde Giglio, and Alessandro Ialongo, Even Healthcare operates a membership-based healthcare model offering primary care, diagnostics, hospital services, and post-discharge support.

Its members pay a monthly or annual subscription fee for services such as doctor consultations, diagnostic tests, and medical guidance. The startup also offers health insurance plans covering hospitalisation.

The layoffs come as Even increases its focus on directly delivering healthcare services through hospitals.

The startup launched its first multispeciality hospital in Bengaluru in May 2025 and subsequently claimed that the facility achieved operating break-even within six months. It has also been expanding its hospital footprint in the city.

Earlier this year, Even Healthcare raised $20 Mn (about ₹180.5 Cr) in a funding round led by existing investors Lachy Groom and Alpha Wave Global, with participation from Sharrp Ventures. The startup said it would use the capital to expand its hospital operations in Bengaluru and scale its managed-care business.

Since its inception, the startup has raised more than $90.45 Mn from investors like Khosla Ventures, Sharrp Ventures, Alpha Wave,Lachy Groom, Nithin Kamath and 8VC, among others.

On the financial front, its net loss widened 15.3% to ₹83 Cr in FY25 from ₹72 Cr in FY24. Operating revenue stood at ₹25 Cr in FY25, up 3.1X from ₹8 Cr in the previous year.