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Home healthcare services provider Portea Medical raises $3.6 Mn venture debt from Alteria Capital

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Bengaluru-based home care provider Portea Medical, run by Health Vista India Pvt Ltd has raised $3.6 Mn (Rs 25 crore) venture debt from Alteria Capital.

Bengaluru, 21 Dec, 2018. RedNewswire/-

Portea Medical was founded in 2012 by Zachery Jones and Karan Aneja. It provides services in four broad categories such as primary care, chronic disease management, elder care and post-operative care. It offers services including physiotherapy, doctor consultations, new mother-and-baby care and diabetic care.

The announcement comes days after Portea said it had introduced specialised and critical care services, including critical care at home, respiratory services, sleep apnea care, palliative care, cancer support services, post trauma care, specialised rehab services and end-of-life care. 

Meena Ganesh, chief executive of Portea said, “It has been a pleasure working with the team at Alteria Capital. They are quick to understand the needs of the business and are long term partners. Venture Debt is a great alternate source of capital for high growth businesses like Portea and we are excited to partner with Alteria.”

Alteria Capital was Co-founded by former executives of Temasek Holdings-backed InnoVen Capital, Ajay Hattangdi and Vinod Murali. It has a corpus of $123 Mn.

Vinod Murali, Co-Founder & Managing Partner of Alteria Capital said “ Providing affordable, convenient healthcare services at home is a massive value proposition which is relevant for not just the Indian market but other emerging markets as well. The Portea brand has created a strong positioning of trust and credibility and we are very excited.”

Last year, Portea had raised $26 million in its Series C round led by mid-market PE firm Sabre Partners and MEMG CDC.

According to data from Crunchbase, till date Portea has raised about $72.5 million in total funding from investors including Accel Partners, Qualcomm Ventures and Ventureast.

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