MedIQ, a Pakistan-based health tech platform founded in 2020 by Dr. Saira Siddiqui, has successfully raised $6 million in a Series A funding round led by Saudi Arabia’s Rasmal Ventures and Joa Capital. The company aims to use the funds to strengthen its technology infrastructure and expand its operations in Saudi Arabia, Qatar, and other Gulf markets.
The platform, which provides on-demand and cashless walk-in healthcare services, operates in Pakistan, Saudi Arabia, the UAE, and Canada. MedIQ’s digitally enabled hybrid ecosystem is designed to offer convenience and flexibility in healthcare access, particularly for women who face challenges visiting hospitals without male companions, especially in Pakistan and the Middle East.
The over-subscribed funding round reflects strong investor confidence in MedIQ’s growth and its ability to become a leading health tech player in the MENA region. Dr. Siddiqui, who holds a PhD in Health Economics from the University of Yorkshire, has expressed her ambition to expand MedIQ’s presence across GCC countries, with women making up 74% of its users.
MedIQ’s recent expansion into Saudi Arabia in 2023 and the new funding will help the company scale its operations and improve its services in the Kingdom’s health tech market, while also planning to enter Qatar and other Gulf nations.
