Portea Medical raises $26m from Sabre, MEMG CDC, others

Consumer healthcare brand Portea Medical has raised a third strategic round of funding to the tune of USD 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 the series C round of funding, Portea said in a statement today.

Portea operates across four major segments in the healthcare space--primary care, chronic disease management, elder care and post-operative care.

TRENDING NOW

Zydus Lifesciences shares extend losses to third day; is there any opportunity?

India suspends visa services in Canada till further notice

M&M's Canada-based associate firm winds up

Vedanta shares slip as the firm discusses issuance of non-convertible debentures

Long-form posts on X now at 3 billion views per day: Elon Musk

HDFC AMC shares jump after RBI's nod to acquire up to 9.5% stake in Karur Vysya Bank and DCB Bank

Lava Probuds 22 with quad-mic ENC, 50 hours of playback launched at Rs 1,399

SJVN's two-day OFS opens today; shares tank around 10%

Retail inflation for farm, rural workers eases marginally in August

Traders' Diary: Buy, sell or hold strategy on SBI Life, Emami, Godrej Properties, Dr Lal PathLabs, Birlasoft, over a dozen other stocks today

Low-interest rates prompted households to shift to physical assets: SBI Research

Anil Singhvi strategy September 21: Important levels to track in Nifty, Nifty Bank today

Agency hired by India to scrutinise Canadians' visa applications withdraws notice on suspension of services

EMS IPO Listing Date Today LIVE Updates: Anil Singhvi predicts strong debut - Check stop loss

Noida Traffic Police Advisory: Roads open and close in New Delhi, Noida and Greater Noida during International Trade Show and Moto GP

It works with over 50 leading hospital partners, 15 pharma majors and leading insurance companies, it said.

Services offered include physiotherapy, doctor consultations, new mother-and-baby care, specialty pharmacy, nutritional wellness, diabetic care, surgery discovery and tele-consultation.

"In under five years, we have served over 2.5 lakh customers across 16 cities in the country. We look forward to further refining the paradigm for consumer-centric healthcare here," said Meena Ganesh, MD and CEO of Portea Medical.

"With this funding round, we will add more depth to our services and consolidate our position," she added.

Avendus Capital advised Portea in the latest round of funding.

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)