Portea gets Rs 248 crore in Series B funding; to expand India operations
International Finance Corporation (IFC), a member of the World Bank Group, Qualcomm Ventures and Ventureast also participated in this round, Portea said in a release.
Home healthcare services provider Portea Medical has said that it has received $37.5 million (nearly Rs 248.08 crore) in Series B funding led by Accel.
International Finance Corporation (IFC), a member of the World Bank Group, Qualcomm Ventures and Ventureast also participated in this round, Portea said in a release.
Portea will use the latest investment to push the company's expansion in India, where it currently operates across 24 cities and handles 60,000 visits in a month to patients' homes.
It will also utilise the funding to grow in other markets elsewhere in the region, including Malaysia, where it already provides services in four cities.
Portea said it has more than 3,000 staffers, and plans to recruit an additional 5,000 over the next 18 months in line with the company's growth plans.
Arun Mathew from Accel, the investment firm which has led investment in other Indian startups like Flipkart, BookMyShow, FreshDesk and others, joins Portea's Board of Directors, it said.
Portea had previously received $9 million (nearly Rs 59.5 crore) Series A funding from Accel, Qualcomm Ventures and Ventureast in December 2013.