Bangalore based Portea raises $26 million led by Sabre Partners

Portea

Bangalore based healthcare startup Portea Medical on Tuesday said it has raised USD 26 million in a Series C led by Sabre Partners and MEMG CDC.

Existing investors Accel Partners, International Finance Corporation (IFC), a member of the World Bank Group and Qualcomm Ventures also participated in this round.

Portea deals across segments such as primary care, chronic disease management, elder care and post-operative care.

The company provides home services offered include physiotherapy, doctor consultations, new mother-and-baby care, specialty pharmacy, nutritional wellness, diabetic care, surgery discovery and teleconsultation.

“In less than five years, we have served more than 2.5 lakh customers across 16 cities in India and created hundreds of jobs. We look forward to furthering refining the paradigm for consumer-centric healthcare in India with the continued support of our customers, investors and healthcare industry partners,” said Meena Ganesh, managing director and chief executive officer of Portea Medical.

The company works with over 50 hospitals and 15 pharma majors and insurance companies in India.

“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,” she added.

Avendus Capital provided financial advisory services to this round in Portea.

"We focus a lot on the quality of management teams, the industry and the execution strategy of the team. The Portea team is top decile in all of these," said Rajiv Maliwal, founder, and managing partner, Sabre Partners.