Pakistani health tech startup MedIQ has raised $6 million in a Series A funding round led by Rasmal Ventures (Qatar) and Joa Capital (Saudi Arabia), with participation from existing investors. The company, which operates in both Saudi Arabia and Pakistan, will use the capital to strengthen its operations in the Kingdom’s rapidly growing health tech sector, currently valued at over $1.92 billion (SAR 7.2 billion).
MedIQ was founded in Pakistan in 2020 by Dr. Saira Siddique, a physician-turned-health economist and entrepreneur. After building a solid foundation in its home market, the company expanded into Saudi Arabia in 2023, where it has emerged as a leading player in the digital healthcare landscape.
MedIQ currently employs 180 people across Islamabad and Riyadh and has previously raised $3.8 million in seed and bridge funding rounds, bringing its total funding to $9.8 million.
The company’s mission is to become the “operating system” for healthcare in the MENAP region (Middle East, North Africa, Afghanistan, and Pakistan) by delivering scalable and efficient healthcare infrastructure. Its digitally integrated hybrid ecosystem empowers healthcare providers, insurance companies, and regulators to adopt AI-powered solutions, simplify Electronic Health Records (EHR) management, enhance telehealth services, and streamline e-pharmacy operations.
Commenting on the milestone, Dr. Saira Siddique, Founder and CEO of MedIQ, said:
“MedIQ is not just another health app. We’re building the foundational digital infrastructure of healthcare—scalable systems that improve outcomes, reduce costs, and make care more connected, convenient, and patient-centered. We started with a simple question: What if healthcare worked like every other modern service?”
Yousef AlYousefi, CEO of Joa Capital, added:
“The progress MedIQ has made since our initial investment—particularly in Saudi Arabia—is remarkable. The next phase of growth brings even greater opportunity, and we are proud to see MedIQ become the undisputed market leader in the Kingdom. The company’s growth plans underscore its commitment to delivering value through technology, data, and accessibility, creating impact for patients and providers alike across Saudi Arabia and the Middle East.”
Soumaya Ben Beya Dridje, Partner at Rasmal Ventures, also shared her enthusiasm:
“MedIQ’s bold vision to transform healthcare delivery across the Middle East and beyond deeply resonates with us. Our investment reflects our shared commitment to advancing health tech solutions that redefine traditional models. Backing startups like MedIQ is part of our broader mission to accelerate digital transformation in healthcare and strengthen the GCC ecosystem.”
Following its strong growth in Saudi Arabia, MedIQ plans to expand into Qatar and other GCC countries, aiming to digitally transform healthcare facilities and insurance operations with AI-driven, patient-centric
