Portea Medical, a home healthcare startup based out of Bangalore, has announced that it has secured around ₹168 crore ($26 million) in its new Series C funding round.
The investment in the current round comes from Sabre Partners and MEMG CDC Ventures. Along with them, existing investors of the company have also poured in money, including International Finance Corporation (IFC) and Qualcomm Ventures.
The proceeds of this new funding round will be used by the company to strengthen its position as a one-stop solution for all healthcare needs of an individual/family outside of hospital care. The company is also planning to spend a portion of the funding to bolster its product offerings.
Commenting on the funding Rajiv Maliwal, founder and Managing Partner at Sabre Partners said,
Our investment in Portea illustrates Sabre Partners’ commitment to supporting the growth of the healthcare sector in India. By using innovative approaches, Portea continues to make an important contribution to improving access and bringing higher quality care for all patients. The company has played a key role in establishing the concept of consumer-led healthcare and we look forward to working with them as they continue to transform healthcare services in India beyond the hospital space.
Portea Medical was acquired in 2013 by Meena Ganesh and her husband Krishnan Ganesh, which was co-founded by Zachary Jones and Karan Aneja. The startup was born with an aim to pioneer the US home healthcare model in India.
The company provides in-home medical care in India as well as in Malaysia. It operates in more than 16 cities in India including Bengaluru, Chennai, Delhi, Gurugram, Mumbai, and Pune.
It focuses on general healthcare, post-hospitalisation care, chronic disease management, elder care and allied services. The startup also offers home visits from doctors, nurses, nursing attendants, and physiotherapists.