Clinicy secures major funding to fuel expansion in SAR 7.2bn Saudi healthtech sector

Clinicy secures major funding to fuel expansion in SAR 7.2bn Saudi healthtech sector

Riyadh - Mubasher: Clinicy, a healthcare technology startup in Saudi Arabia, has secured a seven-figure Series A funding round in US dollars, according to a press release.

The investment was led by Middle East Venture Partners (MEVP), with participation from existing investors including Kafou Group as well as Fadeed Investment, and structured by Gate Capital.

This funding marks one of the largest investments in Saudi Arabia's healthtech sector and will be used to fuel Clinicy's expansion plans.

The company aims to grow its reach within the SAR 7.20 billion Saudi Arabian market and further develop its proprietary Interconnected HealthTech Ecosystem, which aligns with Vision 2030's goals for improved healthcare efficiency and accessibility.

CEO and Co-Founder of Clinicy, Mohammed Abdullah Al Faisal, said: “This latest investment will fuel expansion and it underpins our vision to deepen the quality of engagement with medical institutions and patients, ensuring that our technology makes healthcare more accessible, efficient, and user-friendly.”

Al Faisal added: “We are proud to receive the prestigious backing of Middle East Venture Partners, Gate Capital, Kafou Group, and Fadeed Investment, and look forward to accelerating the future of healthcare across the Kingdom and region.”

Co-Chief Executive at MEVP, Walid Mansour, said: “Clinicy offers a seamless cloud-based platform that