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Portea Medical secures $37.5M from IFC and existing investors

In-home healthcare and other medical services company Portea Medical has raised $37.5 million in a Series B round of funding led by existing investor Accel Partners, Ventureast and Qualcomm Ventures, and new investor International Finance Corporation (IFC), reports YourStory. The platform will use the funds for expanding to other cities in India, hiring, technology and to expand further in Malaysia. Prior to this, Portea had raised Rs 48 crore ($8 million) from Accel Partners and Ventureast in return for 30% stake (at that time) in 2013. Subsequently, the company raised funds from Qualcomm Ventures, which made the strategic investment in July last year. As of now, the platform operates in 25 cities in India including Bangalore, Chennai, Delhi, Mumbai, Pune, Goa etc., as well as in four cities in Malaysia. Founded by Zachary Jones and Karan Aneja in 2012, Portea Medical was acquired by husband and wife duo Krishna and Meena Ganesh in July 2013, and currently provides its own healthcare services like physiotherapy, nursing, attendant or home health aide, doctor visits, lab tests and others. Users can directly book an appointment for a doctor and others from the website, or call Portea to book it for them. As of now, the platform claims to process 2,000 visits to patient homes, although it does not mention how many of these actually use the service. Developments in online healthcare: - Earlier this month, doctor discovery platform Practo acquired Insta Health Solutions for $12 million. Post acquisition, Insta Health would operate as a…

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