Latest news with #MedIQ
Arab News
11-05-2025
- Health
- Arab News
Pakistani health tech platform raises $6 million to expand across GCC
ISLAMABAD: Pakistan-based health tech platform MedIQ recently announced it has raised $6 million in a series A funding round led by Saudi Arabia's venture capital Rasmal Ventures and the Kingdom's investment company, Joa Capital. MedIQ was founded by Dr. Saira Siddiqui, a doctor who holds a PhD in Health Economics from the University of Yorkshire, in 2020 in Pakistan's capital Islamabad. The startup aims to redefine health care through a digitally enabled hybrid ecosystem and is currently operating in Pakistan, Saudi Arabia, the United Arab Emirates (UAE) and Canada. 'This over-subscribed round signals strong investor confidence in our accelerated market traction, validates our excellence in engineering to support in becoming the leading health tech player in MENA, and reinforces the great experience our customers have with MedIQ Solutions,' the platform said in a LinkedIn post on May 4. 'With fresh capital, a focused team, and a purpose-driven founder, MedIQ is now primed to scale across the GCC to become a regional leader,' it added. The company, which expanded into Saudi Arabia in 2023, said it will use the funding to strengthen its technology stack, scale operations in the Kingdom's health tech market and support entry into Qatar and neighboring Gulf markets. In an interview with Arab News in 2023, Dr. Siddiqui expressed her desire to see the platform expand across GCC countries. Siddiqui had said women were the bulk users of MedIQ's products as it is usually hard for them to visit hospitals without male companions in Pakistan and the Middle East. 'According to the figures which we have, about 74 percent of our users are women and [the] women having children or dependents such as older parents,' she had said.
Wamda
05-05-2025
- Business
- Wamda
Pakistan's MedIQ secures $6 million Series A to scale Saudi operations
Pakistan-based healthtech MedIQ has raised $6 million in a Series A round led by Rasmal Ventures and Joa Capital, with participation from existing investors. Founded in 2020 by Saira Siddique, MedIQ offers a digitally integrated hybrid healthcare ecosystem for B2B and B2B2C clients, combining telehealth, e-pharmacy, AI-powered facility digitisation, and back-office automation for insurers. The company expanded into Saudi Arabia in 2023. The funding will be used to scale operations across Saudi Arabia's SAR 7.2 billion healthtech market, enhance its tech stack, and support expansion into Qatar and neighbouring Gulf countries. Press release: First Pakistani Female-Founded Health Tech Startup Secures $6M in Series A Funding to Expand its Middle East Operations MedIQ, a pioneering healthcare technology startup, has raised $6 million in a Series A funding round led by Rasmal Ventures (Qatar) and Joa Capital (Saudi Arabia), with strong follow-on investment from existing backers. Founded in Pakistan in 2020, MedIQ expanded to the Kingdom of Saudi Arabia in 2023, building momentum in healthcare across the region. The funding round is one of the largest in the history of the Kingdom's health tech sector and will be used to fuel MedIQ's further expansion across a market sector worth SAR 7.2 billion in Saudi Arabia alone. MedIQ's growth includes broadening its technological reach and the expansion of a unique, proprietary B2B and B2B2C 'Digitally Integrated hybrid healthcare Ecosystem', which will support the rapid modernisation of the sector in line with Vision 2030's goals to transform healthcare efficiency and accessibility. This includes AI-driven digitisation of healthcare facilities and back-office operations of insurance companies to provide a digitally supported, seamless, patient-centred experience for improved patient satisfaction. This shall be followed by the expansion to Qatar and neighbouring GCC countries. With a vision to become the operating system for healthcare in the MENAP region, MedIQ had previously raised $3.8 million in seed and bridge rounds to build its foundation in Pakistan, expand to serve more than 10M customers, and become EBIDTA positive. With learnings from implementation in Pakistan, world class tested tech stack, subject matter expertise, and on-ground presence in Saudi Arabia, MedIQ gained strong traction clearly indicating the product market fit not only for KSA but similar GCC countries. Raising 6 million USD in new funds, MedIQ is committed to capitalizing on the fast-growing Saudi Arabia's economy and other New Economies in the GCC. Founded by physician-turned-health economist and entrepreneur Dr. Saira Siddique, MedIQ aims to become the "operating system" for healthcare in the MENA region, delivering greater cost efficiency, accountability, and convenience through technology. MedIQ was born out of a personal health crisis experienced by Dr. Saira Siddique, who was left paralyzed and hospitalized for over a year. During this time, she experienced firsthand the fragmented and inaccessible nature of Pakistan's healthcare system. This journey led her to launch MedIQ, with the goal of creating a coherent, interconnected, and digitally enabled healthcare ecosystem. 'People don't just suffer from illnesses — they suffer from the system,' said Dr Siddique. 'MedIQ isn't just another health app. We're building the backbone of digital healthcare — a scalable infrastructure that improves outcomes and reduces costs. It started with a simple idea: what if healthcare worked like any modern service — connected, convenient, and patient-first?' Yousef AlYousefi, CEO of Joa Capital 'We truly subscribe to the mission of improving healthcare using technology. The progress MedIQ has achieved since our investment, especially in Saudi Arabia, is incredible. We are thrilled to double down on our position. The next chapter for MedIQ holds an even bigger opportunity, and we're excited to see MedIQ continue its growth in Saudi Arabia, where it has become the undisputed market leader. These growth plans underline the company's commitment to creating value for patients and healthcare providers in Saudi Arabia and the Middle East by empowering them with technology, data, ease of access and affordable solutions in healthcare.' Soumaya Ben Beya Dridje, Partner at Rasmal Ventures "MedIQ's bold vision to transform healthcare delivery across the Middle East and beyond deeply resonates with us. Led by Dr. Saira, their mission-driven, execution-focused team exemplifies the kind of ambition and innovation we are eager to support. Our investment, alongside Joa Capital, reflects our commitment to advancing health tech solutions that redefine traditional healthcare models. By backing startups like MedIQ, we aim to accelerate digital transformation and strengthen the GCC and regional healthcare ecosystem."
Arabian Business
01-05-2025
- Health
- Arabian Business
Pakistan's MedIQ raises $6mn to expand digital healthcare platform across GCC
MedIQ, a Pakistan-based healthcare technology startup, announced raising $6 million in a Series A funding round led by Qatar's Rasmal Ventures and Saudi-based Joa Capital. The round also involved follow-on investment from existing backers, the venture said. The healthtech venture, which expanded to Saudi Arabia in 2023, said the fresh capital will be used to fuel its further expansion in the region. The venture plans expansion to Qatar and neighbouring GCC countries. Founded by physician-turned-health economist and entrepreneur Dr. Saira Siddique, MedIQ said it aims to become the 'operating system' for healthcare in the MENA region, delivering greater cost efficiency, accountability, and convenience through technology. 'People don't just suffer from illnesses — they suffer from the system,' said Dr. Siddique. 'MedIQ isn't just another health app. We're building the backbone of digital healthcare – a scalable infrastructure that improves outcomes and reduces costs,' she said. MedIQ's growth plans include broadening its technological reach and the expansion of a unique, proprietary B2B and B2B2C digitally integrated hybrid healthcare ecosystem, which will support the rapid modernisation of the sector. This includes AI-driven digitisation of healthcare facilities and back-office operations of insurance companies to provide a digitally supported, seamless, patient-centred experience for improved patient satisfaction. MedIQ was born out of the personal health crisis experienced by Dr. Saira Siddique, who was left paralysed and hospitalised for over a year. During this time, she experienced firsthand the fragmented and inaccessible nature of Pakistan's healthcare system.
Business Recorder
30-04-2025
- Business
- Business Recorder
Pakistani health tech startup MedIQ raises $6mn
Pakistani health tech startup MedIQ raised $6m in a Series A funding round led by Qatar's Rasmal Ventures and Saudi Arabia's Joa Capital, with follow-on investment from existing backers. According to a statement released Thursday, the funding round is one of the largest in the history of the Kingdom's health tech sector and will be used to fuel MedIQ's further expansion across a market sector worth SAR 7.2bn (almost $2bn) in Saudi Arabia. Founded in Pakistan in 2020 by physician-turned-health economist and entrepreneur Dr. Saira Siddique, the startup has a vision to become 'the operating system' for healthcare in the MENAP (Middle East, North Africa, Afghanistan, and Pakistan) region. The company had previously raised $3.8m in seed and bridge rounds to build its foundation in Pakistan. It has raised a total of $9.8 million, entered Saudi Arabia in 2023, and employs 180 people across Islamabad and Riyadh. According to Yousef AlYousefi, CEO of Joa Capital: 'We're excited to see MedIQ continue its growth in SA where it has become the undisputed market leader.' He said the firm's growth plans underline its commitment 'to creating value for patients and healthcare providers in Saudi Arabia and Middle East, by empowering them with technology, data, ease of access and affordable solutions in healthcare.' Meanwhile Soumaya Ben Beya Dridje, partner at Rasmal Ventures, said: 'MedIQ's bold vision to transform healthcare delivery across the Middle East and beyond deeply resonates with us.' 'Our investment, alongside Joa Capital, reflects our commitment to advancing health tech solutions that redefine traditional healthcare models. By backing startups like MedIQ, we aim to accelerate digital transformation and strengthen the GCC and regional healthcare ecosystem.' MedIQ's plans for growth include AI-driven digitization of healthcare facilities and back-office operations of insurance companies to provide seamless patient-centred experience for improved patient satisfaction. This shall be followed by the expansion to Qatar and neighbouring GCC countries. The story behind MedIQ MedIQ was born out of a personal health crisis experienced by Dr Saira Siddique, who was left paralyzed and hospitalized for over a year. During this time, she experienced 'the fragmented and inaccessible nature of Pakistan's healthcare system,' according to the statement. This led her to launch MedIQ, 'with the goal of creating a coherent, interconnected, and digitally enabled healthcare ecosystem'. 'MedIQ isn't just another health app,' she said. 'We're building the backbone of digital healthcare — a scalable infrastructure that improves outcomes and reduces costs. It started with a simple idea: what if healthcare worked like any modern service — connected, convenient, and patient-first?'
Business Recorder
30-04-2025
- Business
- Business Recorder
Pakistani health tech startup MedIQ raises $6m
Pakistani health tech startup MedIQ raised $6m in a Series A funding round led by Qatar's Rasmal Ventures and Saudi Arabia's Joa Capital, with follow-on investment from existing backers. According to a statement released Thursday, the funding round is one of the largest in the history of the Kingdom's health tech sector and will be used to fuel MedIQ's further expansion across a market sector worth SAR 7.2bn (almost $2bn) in Saudi Arabia. Founded in Pakistan in 2020 by physician-turned-health economist and entrepreneur Dr. Saira Siddique, the startup has a vision to become 'the operating system' for healthcare in the MENAP (Middle East, North Africa, Afghanistan, and Pakistan) region. The company had previously raised $3.8m in seed and bridge rounds to build its foundation in Pakistan. It has raised a total of $9.8 million, entered Saudi Arabia in 2023, and employs 180 people across Islamabad and Riyadh. According to Yousef AlYousefi, CEO of Joa Capital: 'We're excited to see MedIQ continue its growth in SA where it has become the undisputed market leader.' He said the firm's growth plans underline its commitment 'to creating value for patients and healthcare providers in Saudi Arabia and Middle East, by empowering them with technology, data, ease of access and affordable solutions in healthcare.' Meanwhile Soumaya Ben Beya Dridje, partner at Rasmal Ventures, said: 'MedIQ's bold vision to transform healthcare delivery across the Middle East and beyond deeply resonates with us.' 'Our investment, alongside Joa Capital, reflects our commitment to advancing health tech solutions that redefine traditional healthcare models. By backing startups like MedIQ, we aim to accelerate digital transformation and strengthen the GCC and regional healthcare ecosystem.' MedIQ's plans for growth include AI-driven digitization of healthcare facilities and back-office operations of insurance companies to provide seamless patient-centred experience for improved patient satisfaction. This shall be followed by the expansion to Qatar and neighbouring GCC countries. The story behind MedIQ MedIQ was born out of a personal health crisis experienced by Dr Saira Siddique, who was left paralyzed and hospitalized for over a year. During this time, she experienced 'the fragmented and inaccessible nature of Pakistan's healthcare system,' according to the statement. This led her to launch MedIQ, 'with the goal of creating a coherent, interconnected, and digitally enabled healthcare ecosystem'. 'MedIQ isn't just another health app,' she said. 'We're building the backbone of digital healthcare — a scalable infrastructure that improves outcomes and reduces costs. It started with a simple idea: what if healthcare worked like any modern service — connected, convenient, and patient-first?'
