Qualcomm Ventures, the corporate venturing arm of chipmaker Qualcomm, has invested an undisclosed amount in India-based in-home healthcare service Portea Medical.
Portea provides doctors, nurses and physiotherapists for home visits across its home country. The funding will allow Portea to scale its network and delivery service.
Meena Ganesh, chief executive at Portea Medical, said: “I am confident that [Qualcomm Ventures’] technical expertise and guidance will help Portea become the focal point for technology-led solutions to tackle two of India’s biggest challenges – chronic disease management and support for the growing population of elderly in the country. ”
Portea was acquired by Indian entrepreneurs and business executivse Krishnan Ganesh and Menna Ganesh last year. It raised $8m in series A funding in 2013 from venture capital firms Accel Partners and VenturEast, and plans to raise a further $40m by the end of 2014 in return for a stake of up to 25%.
Portea is Qualcomm’s fourth invesment in India in 2014, after Housing.com, Ineda Systems and Demach Software.