Health Vista India, which owns and operates home healthcare service provider Portea Medical has raised funds amounting to Rs 25 crore in a funding round. This round was led by venture debt firm Alteria Capital.
The development has come days after Bengaluru-based Portea stated that it had introduced specialised and critical care services, including critical care at home, respiratory services, sleep apnea care, palliative care, cancer support services, post-trauma care, specialised rehab services and end-of-life care.
“They (Alteria Capital) are quick to understand the needs of the business and are long-term partners. Venture debt is a great alternative source of capital for high-growth businesses like Portea,” Meena Ganesh, chief executive officer of Portea stated.
The company operates across primary care, chronic disease management, elder care and post-operative care. It offers services such as physiotherapy, doctor consultations, new mother-and-baby care, specialty pharmacy, nutritional wellness, diabetic care, surgery discovery and tele-consultation.
“Providing affordable, convenient healthcare services at home is a massive value proposition which is relevant for not just the Indian market but other emerging markets as well,” said Vinod Murali, managing partner at Alteria Capital.
A little over two months earlier, Alteria Capital made the second close of its maiden Alteria Capital India Fund I with commitments of more than Rs 625 crore. Anchor investments to Alteria’s fund included those from IndusInd Bank, SIDBI and a large domestic office family fund.
Alteria provides venture debt to startups with cheque sizes ranging from Rs 2 crore to Rs 100crore. The firm, co founded by Murali and Ajay Hattangdi, who previously helmed the venture debt play at Temasek-backed InnoVen Capital India, counts some of India’s top consumer and technology startups in its portfolio, includingFingerlix, Toppr Technologies, Raw Pressery, Vogo Bikes, Dunzo and Vinculum.