MedIQ, a trailblazing digital health startup, has successfully closed a $6 million Series A funding round, led by Rasmal Ventures from Qatar and Saudi Arabia’s Joa Capital, with continued backing from existing investors. This milestone marks one of the largest health tech fundraises in Saudi Arabia to date, further cementing MedIQ’s leading role in the region’s rapidly evolving digital healthcare ecosystem.
Launched in 2020 in Pakistan, MedIQ expanded operations into Saudi Arabia in 2023, tapping into a healthcare sector valued at SAR 7.2 billion. The newly raised capital will accelerate the company’s expansion plans across Saudi Arabia, Qatar, and other GCC nations, bolstering its footprint in the MENAP region.
The company is building a proprietary B2B and B2B2C digitally integrated hybrid healthcare ecosystem that supports Vision 2030’s transformation goals. This platform aims to modernize healthcare delivery with AI-powered digitization of hospitals and insurance operations, offering a seamless, patient-first experience across care delivery.
Also Read: Crafting a Staycation: How to Turn Your Plot Into a Weekend Getaway
MedIQ’s ambition is to become the central operating system for healthcare in the region. With over 10 million customers already served and a proven product-market fit demonstrated in Saudi Arabia, the startup is leveraging its success and technology from Pakistan to scale further. Its offerings include electronic health records (EHR), telehealth, e-pharmacy, revenue cycle management (RCM), and AI decision support tools used by providers, insurers, and government agencies.
Founded by Dr. Saira Siddique, a physician and health economist who was inspired by her personal battle with a broken healthcare system, MedIQ is driven by a mission to create a connected, accessible, and efficient digital health infrastructure. Her leadership has shaped MedIQ into a category-defining venture that has raised a total of $9.8 million and built a team of 180 employees across Islamabad and Riyadh.
Backers Rasmal Ventures and Joa Capital praised MedIQ’s execution and vision, with both firms reaffirming their commitment to the company’s mission of transforming healthcare accessibility and affordability through technology.
With this funding, MedIQ is poised to solidify its leadership in Saudi Arabia and scale its innovative digital health solutions throughout the GCC, setting a new benchmark for healthcare modernization in the region.
