Islamabad/Riyadh – MedIQ, a pioneering health tech startup founded in Pakistan, has raised $6 million in a Series A funding round to drive its expansion across the GCC region. The round was co-led by Qatar-based Rasmal Ventures and Saudi Arabia’s Joa Capital, with strong follow-on participation from existing investors.
Founded in 2020 by physician-turned-entrepreneur Dr. Saira Siddique, MedIQ offers a proprietary digitally integrated hybrid healthcare ecosystem designed to modernize healthcare delivery through technology. With this latest funding, the company aims to accelerate its growth in the Kingdom of Saudi Arabia (KSA), where the digital healthcare market is valued at SAR 7.2 billion, and expand into Qatar and other neighboring GCC countries.
The Series A round is among the largest ever secured by a health tech startup in Saudi Arabia, underscoring investor confidence in MedIQ’s transformative potential. The capital will be deployed to scale the company’s AI-powered solutions for healthcare providers, insurers, and government entities, supporting Vision 2030’s agenda of enhancing efficiency, accessibility, and patient satisfaction within the healthcare sector.
“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?”
MedIQ entered Saudi Arabia in 2023 and has rapidly gained traction, validating its product-market fit across the GCC. With over 10 million customers served and EBIDTA-positive operations, the company has already developed a comprehensive tech stack, including EHR, telehealth, e-pharmacy, revenue cycle management (RCM), and AI decision support tools.
CEO of Joa Capital Yousef AlYousefi said, 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. These growth plans underline the company’s 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.
Partner at Rasmal Ventures Soumaya Ben Beya Dridje said, 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.
The company currently employs 180 people across its offices in Islamabad and Riyadh and has raised a total of $9.8 million in funding to date.
Born out of Dr. Siddique’s own personal health crisis, MedIQ was launched to tackle the fragmented and inefficient healthcare systems in the region. Her mission-driven leadership and focus on scalability and impact continue to position MedIQ as a category-defining player in MENA’s digital health landscape.
