Consumer healthcare brand Portea Medical has raised Series C funding of $26 million led by new investors Sabre Partners and MEMG CDC.

Portea’s existing investors Accel, International Finance Corporation and Qualcomm Ventures also participated in this round. Avendus Capital provided financial advisory services to the latest funding round.

“Portea has built a comprehensive, tightly integrated platform for a range of tech-led healthcare services — from diagnostics to chronic disease management, surgery-discovery to post-operative support, and new mother-and-baby care to elder care. In less than five years, we have served more than 2.5 lakh customers across 16 cities in India and created hundreds of jobs.,” said Meena Ganesh, MD and CEO of Portea Medical. “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 or her family members may have outside of hospital care” said Ganesh. With this latest round, the company has raised a total of $72.5 million to date.

Portea operates across four major segments including primary care, chronic disease management, elder care and post-operative care. Services offered include physiotherapy, doctor consultations, new mother-and-baby care, speciality pharmacy, nutritional wellness, diabetic care, surgery discovery and tele-consultation. The company works with more than 50 leading hospital partners, 15 pharma majors and leading insurance companies in India.

“Organised homecare is an integral component in ensuring “continuum of care”. Our investment in Portea will help the company scale and embed technology to improve efficiency and effectiveness in its delivery. We’re providing patient, long-term capital to Portea for it to develop capabilities to reach out to many more customers and offer a comprehensive range of “out of hospital care services” said Harinarayan Sharma, Managing Director, MEMG CDC Ventures Ltd..

(This article was published on November 21, 2017)
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