Portea Medical raises $26M in Series C funding round

Bangalore based healthcare startup Portea Medical has raised $26 million in Series C funding round led by new investors Sabre Partners and MEMG CDC. Existing investors Accel Partners, Qualcomm Ventures and International Finance Corporation(IFC) also participated in the round.

''The ultimate goal of Portea Medical is to 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, and CEO of Portea Medical.

Harinarayan Sharma, managing director at MEMG CDC Ventures said that Portea is likely to hire close to 6,000 personnel in two years and upgrade the skills of its personnel. "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," Sharma further added.

Portea operates across four major segments: primary care, chronic disease management, elder care and post-operative care. Services offered include physiotherapy, doctor consultations, new mother-and-baby care, specialty pharmacy, nutritional wellness, diabetic care, surgery discovery and tele-consultation.