MedIQ, a pioneering healthcare technology startup, has raised $6 million in a Series A funding round led by Qatar-based Rasmal Ventures and Saudi-based Joa Capital, 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 will fuel MedIQ’s further expansion into a market sector worth SAR 7.2 billion in Saudi Arabia alone. This will be followed by expansion to Qatar and neighbouring GCC countries.
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.
“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, 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.”
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. 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.”
