Even Healthcare has laid off nearly 30–35% of its workforce, or around 350 employees, according to four sources familiar with the matter.
Even’s revenue from ops rose to Rs 27.2 crore in FY25 from Rs 8.3 crore in FY24, while its losses widened to Rs 90.2 crore from Rs 72.4 crore in the same period.
This followed a $30 million funding round in 2024, taking the total capital raised by Even to more than $70 million.
The proposed $50 million round, therefore, comes just months after its previous fundraise.
Even’s latest restructuring points to the challenges of building a capital-intensive healthcare delivery business while managing the economics of its earlier model.
Healthtech startup Even Healthcare has raised back-to-back funding rounds this year, but the fresh capital has not stopped the company from laying off around 350 employees as it phases down its insurance business and shifts its focus to a hospital-led healthcare model.
Even Healthcare has laid off nearly 30–35% of its workforce, or around 350 employees, according to four sources 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,” said one of the sources requesting anonymity.
The layoffs come at a difficult time for the Bengaluru-based startup, which is in the process of raising $50 million in a round led by existing investor Khosla Ventures. It has already raised $21 million in the first tranche, with the remaining amount expected to come in a subsequent tranche. Entrackr exclusively reported the funding round and its breakup on Wednesday.
“Sources said the restructuring is aimed at bringing down costs and improving operational efficiency,” said the person cited above.
According to sources, Even has been moving deeper into healthcare delivery after starting with a subscription-led model. The firm launched its first hospital in Bengaluru and is looking to expand its hospital network.
However, the expansion has come with a high cash burn. Even’s revenue from ops rose to Rs 27.2 crore in FY25 from Rs 8.3 crore in FY24, while its losses widened to Rs 90.2 crore from Rs 72.4 crore in the same period.
The company had raised $20 million in January 2026 from Lachy Groom and Alpha Wave Global. This followed a $30 million funding round in 2024, taking the total capital raised by Even to more than $70 million.
The proposed $50 million round, therefore, comes just months after its previous fundraise. The latest layoffs suggest that the company is now looking to tighten spending while it prepares for its next capital infusion.
Even’s latest restructuring points to the challenges of building a capital-intensive healthcare delivery business while managing the economics of its earlier model. As the firm reshapes its operations, the key question will be whether the new approach can improve unit economics and create a more sustainable path to growth. The outcome will also determine how effectively Even can translate fresh investor backing into a business that requires less capital to support each stage of its expansion.
