3 min read
MedIQ, a health technology startup founded by a Pakistani woman, has raised $6 million in a Series A funding round.
Rasmal Ventures (Qatar) and Joa Capital (Saudi Arabia) spearheaded this latest investment, with continued support from MedIQ’s existing investors.
Founded in 2020 by Dr. Saira Siddique, a physician-turned-health economist, MedIQ was born out of a deeply personal health crisis that left her paralyzed and hospital-bound for over a year. Her firsthand experience of Pakistan’s disjointed and inefficient healthcare system became the catalyst for launching MedIQ.
“People don’t just suffer from illnesses — they suffer from the system,” said Dr. Siddique.
The startup aims to fix that system by building what Dr. Siddique describes as
“The backbone of digital healthcare — a scalable infrastructure that improves outcomes and reduces costs.”
MedIQ is not just another app. It envisions becoming the “operating system” for healthcare in the MENA region — smart, connected, and user-centric.
MedIQ’s Regional Expansion
After establishing its roots in Pakistan, MedIQ entered the Saudi Arabian market in 2023, with a vision aligned with the country’s Vision 2030 for healthcare modernization. The platform delivers a fully integrated B2B and B2B2C hybrid healthcare ecosystem, blending AI, digitization, and real-time service access to enhance both care quality and system efficiency.
With this fresh funding, the company is set to scale operations further across Saudi Arabia, where the healthcare tech sector is valued at SAR 7.2 billion. It also plans to expand to Qatar and neighboring GCC countries.
A standout offering is MedIQ’s AI-driven digital suite, which enhances Electronic Health Records (EHR), telehealth, e-pharmacy, and revenue cycle management (RCM) — all embedded with AI decision support. This allows a seamless, patient-first experience by streamlining everything from appointments to insurance workflows.
“MedIQ isn’t just another health app. We’re building the backbone of digital healthcare — a scalable infrastructure that improves outcomes and reduces costs,” Dr. Siddique noted. “It started with a simple idea: what if healthcare worked like any modern service—connected, convenient, and patient-first?”
Investors Back Vision of Tech-Led Healthcare Transformation
The Series A round is among the largest health tech fundings in the Kingdom and solidifies MedIQ’s position as a market leader in Saudi Arabia. MedIQ had previously raised $3.8 million through seed and bridge rounds and now boasts a total raise of $9.8 million. The company currently employs 180 professionals across Islamabad and Riyadh, serving over 10 million users. Moreover, it has already achieved EBITDA-positive status.
Backing the company’s future, Yousef AlYousefi, CEO of Joa Capital, stated:
“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 SA where it has become the undisputed market leader… empowering them with technology, data, ease of access and affordable solutions in healthcare.”
Soumaya Ben Beya Dridje, Partner at Rasmal Ventures, echoed this sentiment:
“MedIQ’s bold vision to transform healthcare delivery across the Middle East and beyond deeply resonates with us… By backing startups like MedIQ, we aim to accelerate digital transformation and strengthen the GCC and regional healthcare ecosystem.”
MedIQ has a proven model and a world-class technology stack. Its mission blends innovation with empathy. The company is ready to reshape healthcare across the MENAP region — one digital solution at a time.
