MedIQ, a pioneering digital health startup, has successfully raised $6 million in Series A funding, led by Rasmal Ventures from Qatar and Saudi Arabia’s Joa Capital, with continued support from existing investors. This marks one of the largest health tech fundraisers in Saudi Arabia, solidifying MedIQ’s leading role in the region’s rapidly evolving digital healthcare ecosystem.
Founded in 2020 in Pakistan, MedIQ expanded into Saudi Arabia in 2023, tapping into the country’s healthcare sector, valued at SAR 7.2 billion. The newly acquired capital will fuel MedIQ’s expansion across Saudi Arabia, Qatar, and other GCC nations, enhancing its footprint in the MENAP region.
MedIQ is building a proprietary, digitally integrated hybrid healthcare ecosystem, focusing on B2B and B2B2C models, which aligns with Saudi Arabia’s Vision 2030 transformation goals. The platform modernizes healthcare delivery with AI-powered digitization of hospitals and insurance operations, providing a seamless, patient-first experience.
With over 10 million customers already served and a proven product-market fit in Saudi Arabia, MedIQ is expanding its offerings, including electronic health records (EHR), telehealth, e-pharmacy, revenue cycle management (RCM), and AI decision support tools for providers, insurers, and government agencies.
Founded by Dr. Saira Siddique, a physician and health economist driven by her personal experiences with a broken healthcare system, MedIQ aims to create a connected, accessible, and efficient digital health infrastructure. MedIQ has now raised a total of $9.8 million and employs 180 people across Islamabad and Riyadh.
Rasmal Ventures and Joa Capital praised MedIQ for its strong execution and vision, with both firms reaffirming their support for the company’s mission to improve 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 across the GCC, setting a new benchmark for healthcare modernization in the region.
