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Portea raises Rs 25 crore in venture debt from Alteria Capital

Portea has raised Rs 25 crore in venture debt from Alteria Capital, the company announced in a statement. Nearly a year ago, Portea raised $26 million in Series C funding led by new investors Sabre Partners and MEMG CDC, with participation from existing investors Accel, International Finance Corporation (IFC), and Qualcomm Ventures.

The company has received a total funding of $72.5 million, barring the current venture debt:

  • January 2017: $26 million from new investors Sabre Partners and MEMG CDC
  • September 2015: $37.5 million round led by International Finance Corporation
  • July 2014: Strategic investment from Qualcomm Ventures, amount undisclosed
  • December 2013: $8 million in Series A funding from Accel Partners and Ventureast

Expansion to specialised home care

Earlier this month, Portea expanded to providing specialized and critical care services, called Portea Intensive & Specialized Care, in select cities, including critical care at home, respiratory services, sleep apnea care, palliative care, cancer support services, post-trauma care, specialized rehab services, and end-of-life care. A year ago, the company had acquired Health Mantra which provided home healthcare equipment and for sleep apnea care and respiratory disorder.

  • Portea has also acquired a majority stake in doctor aggregator platform PSTakeCare in an all cash deal in January 2016.
  • In November 2015, it acquired MedybizPharma for an undisclosed amount in an all cash and stock deal. The startup provided chronic disease management support, and included therapy compliance support and prescription refills.

The company offers primary care, chronic disease management, geriatric care and post-operative care. It claims to have completed 2.5 million patient visits across 16 cities since inception, and manages 120,000 patient visits months. It works with 50 hospitals and 15 pharmaceutical and insurance companies.

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