MedIQ, a Pakistan-based healthcare technology startup, has raised $6 million in Series A funding to scale its AI-powered, digitally integrated healthcare platform across the Gulf region.
Led by physician-turned-health economist Dr. Saira Siddique—who was once paralyzed and hospitalized for over a year following a life-altering accident—the company’s mission is rooted in a firsthand understanding of healthcare system failures.
The round was led by regional investors Rasmal Ventures from Qatar and Joa Capital from Saudi Arabia, with significant follow-on support from existing backers, This latest funding round, one of the largest ever recorded in Saudi Arabia’s health tech sector, signals growing investor confidence in MedIQ’s vision to reimagine care delivery through smart, connected infrastructure.
Founded in Pakistan in 2020 by physician-turned-health economist Dr. Saira Siddique, MedIQ expanded its operations to the Kingdom of Saudi Arabia in 2023, rapidly building momentum and gaining traction in the region’s healthcare landscape.
Key Highlights
- Pakistani-based female-founded health tech startup MedIQ raised $6 million in funding.
- The round was led by Rasmal Ventures (Qatar) and Joa Capital (Saudi Arabia), with participation from existing investors.
- This is one of the largest health tech funding rounds in Saudi Arabia’s history.
- Funds will drive expansion across Saudi Arabia and into Qatar and other GCC countries.
- MedIQ is developing a proprietary B2B and B2B2C digitally Integrated hybrid healthcare ecosystem that aims to modernize healthcare and improve efficiency and patient experience.
- MedIQ has served over 10 million customers in Pakistan and achieved EBITDA positivity.
- To date, the company has raised a total of $9.8 million and employs 180 people in Islamabad and Riyadh.
Founder’s journey – Healthcare vision born from personal struggle
MedIQ’s mission to create a coherent, interconnected, and digitally enabled healthcare ecosystem is deeply personal for its founder, Dr. Saira Siddique. The inspiration for the company was born out of a health crisis Dr. Siddique experienced in 2019. After surviving a devastating accident in 2019, she spent over a year immobilized in a hospital bed.
Having previously worked on the policy side of healthcare with organizations like the World Bank, her time as a patient revealed the critical shortcomings of fragmented and inaccessible healthcare systems, particularly in Pakistan.
“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 has already established a significant presence in Pakistan, serving over 10 million customers and achieving EBITDA positivity before its expansion into Saudi Arabia. The company offers an end-to-end digital infrastructure encompassing EHR, telehealth, e-pharmacy, RCM, and AI decision support, utilized by providers, insurers, and governments. Its platform connects patients, providers, and payers through a digitally-enabled, cashless healthcare ecosystem powered by third-party administrator (TPA) services, including cashless outpatient and inpatient management solutions and AI-based claims verification.
Expansion and digital healthcare transformation in GCC
With its latest funding round, MedIQ is doubling down on its presence in Saudi Arabia, where the healthcare market is valued at SAR 7.2 billion (around USD 1.92 billion). The company is strategically aligned with the Kingdom’s Vision 2030, which emphasizes healthcare efficiency, digital transformation, and patient-centric care.
The ecosystem includes AI-driven digitization of healthcare facilities and the back-office operations of insurance companies. This approach aims to provide a digitally supported, seamless, patient-centered experience, ultimately leading to improved patient satisfaction. Following its reinforced presence in Saudi Arabia, MedIQ plans to expand its footprint into Qatar and neighboring GCC countries.
“This funding round is one of the largest in the history of the Kingdom’s health tech sector,” MedIQ announced. The capital will be used to scale its AI-driven infrastructure, automate insurance operations, and build digital pathways for seamless, cost-effective care experiences.
“MedIQ’s bold vision to transform healthcare delivery across the Middle East and beyond deeply resonates with us,” said Soumaya Ben Beya Dridje, Partner at Rasmal Ventures. “Led by Dr. Saira, their mission-driven, execution-focused team exemplifies the kind of ambition and innovation we are eager to support.”
This brings MedIQ’s total raised capital to $9.8 million, and positions it to become what Dr. Siddique calls the “operating system for healthcare in the MENAP region.”
“We truly subscribe to the mission of improving healthcare using technology,” said Yousef AlYousefi, CEO of Joa Capital. “The progress MedIQ has achieved since our investment, especially in Saudi Arabia, is incredible. The next chapter 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.”
What’s next
With total raised capital now standing at $9.8 million, MedIQ is poised to capitalize on the fast-growing economies of Saudi Arabia and other GCC nations, striving to become the foundational “operating system” for healthcare across the MENAP region.
The company is focused on AI-driven back-office automation for insurance companies and hospitals, aiming to deliver a truly interconnected healthcare experience.
Building on its experience in Pakistan’s fragmented healthcare system—and leveraging a robust, field-tested tech stack—MedIQ is applying its learnings to address the demands of digitizing healthcare markets in the Gulf. Its model combines deep technology with localized service delivery, designed to scale across countries with similar structural healthcare challenges.
Using lessons learned from Pakistan’s challenging healthcare infrastructure and building on its tested tech stack, MedIQ aims to address the needs of the rapidly digitizing Gulf healthcare sector. Its model, which blends tech with localized service delivery, is designed to scale across countries with similar systemic challenges.
By combining AI, strategic partnerships, and regionally adapted solutions, MedIQ is not just following the digital health trend—it’s helping define it.