Funding round led by Sabre Partners and MEMG CDC with Accel, IFC and Qualcomm Ventures co-investing
Portea Medical has announced Series C funding of $26 million led by new investors Sabre Partners and MEMG CDC. Portea’s existing investors Accel, International Finance Corporation (IFC), a member of the World Bank Group and Qualcomm Ventures also participated in this round.
Portea operates across four major segments: primary care, chronic disease management, elder care and post-operative care.
“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, MD & CEO of Portea Medical.
Rajiv Maliwal, Founder and Managing Partner, 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.”
“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, MD, MEMG CDC Ventures.