Wednesday , July 8 2020
Breaking News
Home / International Customs / Qatar / Qatari startup raises QR9m Series A funding
Qatari startup raises QR9m Series A funding

Qatari startup raises QR9m Series A funding

Qatar-based Meddy, a doctor booking platform, has raised QR 9 Million in a Series A round to scale up its operations and expand into other GCC countries.

The Series A funding round was led by New York-based Modus Capital, along with participation from 212 Capital, Qatar Science & Technology Park (QSTP), Kasamar Holdings, Dharmendra Ghai (Health Tech Angel), Innoway and others.

Series A funding is the first venture capital funding for successful startups and follows a startup company’s seed round so they can further develop or scale-up. Before this Series A, Meddy had raised $750,000 from 500 Startups, QSTP, and some angel investors.

Founded in 2016 in Qatar, consumer-facing platform Meddy helps patients find the doctors best suited to their needs and book appointments with them. The doctors can be searched using different filters including their specialization/sub-specialization, treatment, nationality/country of education, and the languages they speak. The platform also features reviews and ratings for the doctors listed and is available on iOS, Android and Web.

The largest doctor booking platform in Qatar – with over 120,000 monthly users – Meddy has drastically increased profitability for practising providers in Qatar by drawing new patients to them and enhancing the patient experience. The company has facilitated more than a hundred thousand bookings to date.

Meddy also provides a suite of products to clinics and their marketing teams to manage bookings, patient reviews, and analytics. It helps clinics improve their online presence and acquire new patients. The company receives several thousands of bookings per month for its consumer product and the key use of the current investment would be to increase conversions of these bookings.

Kareem Elsirafy, a partner at Modus Capital who will be joining Meddy’s board, said “We see Meddy as the up and coming leader in providing booking services to clinics in the GCC. The team has proven they clearly understand the needs of their customers, and the positive feedback and added value they provide have created a very strong foundation for rapid regional growth. We’re excited to have Meddy in our portfolio and look forward to supporting them in their continued growth.”