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Home health firm Portea Medical raises $20-M via right issue

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Bengaluru-based home healthcare solutions provider Portea Medical has raised around USD 20 million via a rights issue. The IPO bound Portea will issue 69,206,452 Series D1 compulsory convertible preference shares (CCPS) to existing shareholders at INR 23.96 per share, aggregating to INR 165.8 crore.Portea provides elder care, mother & child care, consultation for nutrition and diet, physiotherapy, nursing, lab tests and counselling.

Between Dec-13 and Jun-22, Portea had raised over USD 95 M from Accel India, Ventureast, Sabre Partners, Qualcomm Ventures, Accel USA, CDC-MEMG, InnoVen Capital, Alteria Capital, IFC, DFC, others