Qualcomm backs India's Portea Medical

This is the second institutional round raised by the company. Portea raised INR480 million ($8 million) from Accel Partners and Ventureast in a Series A round in December.

Portea provides doctors, nurses and physiotherapists for home visits across the country. Its services include geriatric care, post-operative care, palliative care and physiotherapy. The business was sold by its original owners to serial entrepreneurs Krishnan and Meena Ganesh last year.

This latest round of capital will be used by the business to expand into chronic care. Portea is understood to be looking to raise another $ 40 million by the end of this financial year from existing and new investors.

"India's already strained healthcare infrastructure requires transformational strategies. Wireless technologies are revolutionising healthcare, and with our investment in Portea, we aim to create a technology-based platform to address India's healthcare challenges," said Karthee Madasamy, vice president of Qualcomm Ventures India, told VC Circle.

This is Qualcomm's fourth India investment since January this year. It recently backed real estate search site Housing.com, Ineda Systems and Demach Software.

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• Topics
• South Asia
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• Healthcare
• Early-stage
• India
• Venture
• healthcare
• Qualcomm Ventures