Portea Medical Raises $26 Million From Two New Investors
Portea Medical raises $25 million led by new investors Sabre Partners & MEMG CDC .
Portea Medical has raised $26 million in a round led by new investors Sabre Partners and MEMG CDC, a joint fund of Manipal Education and Medical Group and U.K.’s development financial institution CDC Group Plc.
Existing investors, including Accel partners, World Bank Group’s International Finance Corporation, and Qualcomm Ventures also participated in the round, the company said in a statement.
The Bengaluru-based in-home healthcare service provider operates across four major segments: primary care, chronic disease management, elder care and post-operative care. It offers services like physiotherapy, doctor consultations, post-natal care, nutritional wellness, diabetic care, surgery discovery and tele-consultation, among others.
“With this funding round, we will add more depth to our services and consolidate our position as a trusted port-of-call for every healthcare need that an individual and his/her family members may have outside of hospital care,” said Meena Ganesh, managing director and chief executive officer, Portea Medical.
The company said it works with more than 50 leading hospital partners, 15 pharma majors and insurance companies in India. In less than five years, the firm has served more than 2.5 lakh customers across 16 cities in India, Ganesh added.
“Organised home care is an integral component in ensuring “continuum of care,” said Harinarayan Sharma, managing director, MEMG CDC Ventures Ltd. “Our investment in Portea will help the company scale and embed technology to improve efficiency and effectiveness in its delivery.”
Avendus Capital provided financial advisory services to the latest funding round in Portea, the release said.