Accel Partners, IFC, Qualcomm Ventures & Ventureast Invest US$37.5 Million in Portea Medical (Asia)
Source: Portea Medical, International Finance Corporation
Venture capital firm Accel Partners has led a US$37.5 million Series B round of funding for India-based home healthcare company Portea Medical. Development finance institution International Finance Corporation (IFC), Qualcomm’s investment arm Qualcomm Ventures and India-focused venture capital firm Ventureast also participated in the round. IFC invested US$7 million in the round; breakouts for the other firms were not disclosed. Portea will use the new capital to fuel its expansion within India and in other Asian markets, including Malaysia.