Bengaluru, NFAPost: Even, a healthcare membership company that facilitates to onboard non-insured citizens to insurance ambit, raised $5 million seed fund led by Khosla Ventures. Even Healthcare has already started working with 100 hospitals and secured a partnership with Narayana Hospital to deliver more than 2,000 Covid vaccinations so far, and more in a second round.
Others who participated in the funding include Founders Fund, Lachy Groom, and a group of individuals including Palo Alto Networks CEO Nikesh Arora, CRED CEO Kunal Shah, Zerodha founder Nithin Kamath and DST Global partner Tom Stafford.
Cofounded by Mayank Banerjee, Matilde Giglio and Alessandro Ialongo, Even aims to cover those who are not targeted by mainline insurance companies. The startup has come up with a unique product for the unisured by coming up with a membership product that will cost around $200 per person per year. The company covers persons aged 18 to 35.
The Bangalore-based company understood the real problem of the Indian health insurance scenario as the country has limited literacy on health insurance and it covers only 5% of the population. But there is a vast majority who are going for primary care consultation, testing and scanning. These people are not coming under insurance cover.
According to sources, the founders want to use the new funding to build out their operational team, product and integration with hospitals.
