Pakistan-Based Healthtech MedIQ Secures $6 Million in Series A Funding to Expand Middle East Operations
MedIQ, a pioneering healthcare technology startup founded by Dr. Saira Siddique in 2020, has raised $6 million in a Series A funding round led by Rasmal Ventures and Joa Capital. The investment will fuel the company’s expansion across Saudi Arabia’s SAR 7.2 billion healthtech market and support its entry into Qatar and other neighboring Gulf countries.
The funding round, which saw participation from existing investors, is one of the largest in Saudi Arabia’s healthtech sector. MedIQ plans to use the capital to enhance its technology stack and scale its operations in the region. The company’s digitally integrated hybrid healthcare ecosystem combines telehealth, e-pharmacy, AI-powered facility digitization, and back-office automation for insurers, providing a seamless and patient-centered experience.
MedIQ expanded into Saudi Arabia in 2023, building on its success in Pakistan where it had previously raised $3.8 million in seed and bridge rounds. The company’s growth is aligned with Saudi Arabia’s Vision 2030 goals to transform healthcare efficiency and accessibility. With its AI-driven digitization of healthcare facilities and insurance operations, MedIQ aims to become the “operating system” for healthcare in the MENA region.
“People don’t just suffer from illnesses — they suffer from the system,” said Dr. Saira Siddique, founder of MedIQ. “MedIQ isn’t just another health app. We’re building the backbone of digital healthcare — a scalable infrastructure that improves outcomes and reduces costs.” The company’s journey began with Dr. Siddique’s personal experience of being hospitalized for over a year, during which she witnessed firsthand the fragmented nature of Pakistan’s healthcare system.
Investors have expressed strong confidence in MedIQ’s vision. “We truly subscribe to the mission of improving healthcare using technology,” said Yousef AlYousefi, CEO of Joa Capital. Soumaya Ben Beya Dridje, Partner at Rasmal Ventures, added, “MedIQ’s bold vision to transform healthcare delivery across the Middle East and beyond deeply resonates with us.” Their statements underscore the potential of MedIQ’s innovative approach to healthcare technology in the region.
