Pakistan’s first female entrepreneur raised pre-seed fujding of $1.8 million. Dr. Saira Siddique, a Pakistani startup’s first female founder, has received $1.8 million in pre-seed investment for medIQ, a health software firm.
Women-led enterprises have only received 3% of overall investment in Pakistan’s startup- ecosystem within last five years. Therefore, this fundraiser is a once-in-a-lifetime opportunity for Pakistani women entrepreneurs to exhibit their abilities.
“We are thrilled to complete this strategic funding round, which is an endorsement of our holistic healthcare model by leading investors with robust healthcare and technology expertise,” stated Dr. Siddique, medIQ’s Founder and CEO
“medIQ is reinventing digital healthcare services by enhancing quality and convenience for patients, cutting costs for patients, healthcare providers, and insurers, and with a significant capacity to become a regional player,” she stated.
Pakistan’s First Full B2B Virtual Care Platform
medIQ is Pakistan’s first full B2B virtual care platform. It offers everything a business or insurance needs to provide virtual care to its customers. It also serves individual clients in both urban and rural areas. Thus, linking them directly to health-care providers.
“To deliver an efficient model of care at scale, an integrated digital platform is a must-have in today’s healthcare system.” Dr. Saira Siddique continued, “medIQ has established a track record with over 300,000 patients serviced in only eighteen months.”
The pandemic fueled Pakistan’s startup industry. Hence, investments in 83 projects increased from $65 million in 2020 to $350 million in 2021.
The healthcare business has been reluctant to attract funding from ventures, given its considerable potential market. However, as the industry attracts more investor attention, this is expected to change.
With the money received, medIQ plans to expand its technological infrastructure. Also, they plan to deliver complete virtual care to businesses and patients. This will be possible through the development of AI and Machine Learning tools based on high-quality patient data.
The company plans to expand its services to 20 cities in Pakistan, as well as across the region.