Portea Medical raises Rs 25 crore in venture debt

Meena Ganesh, chief executive of Portea Medical

Portea Medical, a consumer healthcare service provider owned by HealthVista India has raised Rs 25 crore in venture debt from Alteria Capital.

“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,” said Meena Ganesh, chief executive of Portea, in the statement.

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

The startup works with more than 50 hospitals and 15 pharmaceutical and insurance companies in India for offering its services online.

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In 2013, the company was acquired by Ganesh and her husband Krishnan Ganesh, partner at Growth Story, for an undisclosed amount, in an all-equity deal.

Portea has raised a total of $72.5 million in total funding from investors including Accel Partners, Qualcomm Ventures and Ventureast, according to data from Crunchbase.

 

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