Saudi Arabia-based healthtech Tuba has raised $8 million in a pre-seed funding spherical led by Al-Waalan Funding, with participation from angel buyers, the corporate introduced on Thursday.
Based earlier this 12 months by Fayez Al-Anazi, who beforehand based and led the brand new and used automobiles market Syarah, Tuba goals to simplify healthcare administration for each sufferers and suppliers by AI-powered options that improve operational effectivity, scale back prices, and foster extra clear, patient-centric experiences.
Fayez stepped down as Chief Advertising Officer of Syarah in March 2024 however stays a board member, based on his LinkedIn profile.
Tuba hasn’t shared many specifics about its choices however screenshots on its web site recommend its app connects with insurers and lets customers monitor therapy approvals, request prescription refills, submit reimbursement claims, and seek the advice of with medical doctors on-line.
“Once we launched the ‘Syarah’ platform, our purpose was to reshape the used automotive market by expertise and transparency. At the moment, we see the same alternative within the healthcare sector, which lacks fashionable options that maintain tempo with its rising wants,” mentioned Fayez Al-Anazi, Founder and CEO of Tuba. “By Tuba, we purpose to create a major shift utilizing synthetic intelligence, serving to make healthcare administration extra environment friendly, equitable, and inclusive.”
The capital shall be used to develop Tuba’s technical infrastructure, broaden operations to satisfy rising demand for digital healthcare options, and strengthen its group by attracting prime expertise to assist future development plans.
Mohammed Al-Khalawi, CEO of Al-Waalan Funding, highlighted the strategic rationale behind their funding: “The healthcare sector requires extra environment friendly and versatile options, and the Tuba platform has each the imaginative and prescient and the expertise wanted to drive this transformation. Our funding in Tuba stems from our confidence within the group’s capability to ship progressive options that improve the effectivity of healthcare spending and create an enduring, optimistic affect on this very important sector.”
The announcement comes shortly after MedIQ, one other participant within the area, raised $6 million in Sequence A funding to develop its presence in Saudi Arabia
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