Raed Health raises $1M in funding from Merak Capital
Riyadh, Saudi Arabia — Raed Health has raised a $1 million investment in a round led by the technology investment firm Merak Capital. Raed Health is an innovative licensed telehealth company in Saudi Arabia that provides a unique Direct-To-Consumer (DTC) business model to the health and wellness needs of its clients.
This investment will help Raed Health expand its offerings, including No.Diet, a virtual clinic that offers personalized, SFDA-approved medical products and support individuals seeking to attain their ideal weight.
"We are thrilled to receive the investment and support of Merak Capital and are determined to pursue our mission of revolutionizing health and wellness in Saudi Arabia," said Saleh Al Tuwaijri, CEO and Co-Founder of Raed Health. "Our unique telehealth and DTC approach has the potential to shape the future of the healthcare industry locally, and we are committed to making quality healthcare more accessible, convenient, and affordable to individuals across the region."
Raed Health's DTC strategy removes intermediaries, offering direct access to healthcare providers, reducing costs, and simplifying the process for customers. This unique go-to-market strategy has gained popularity in Saudi Arabia and will change how individuals access healthcare.
"We are excited to support Raed Health in its mission to transform health and wellness in Saudi Arabia through its innovative DTC proposition," said Ahmed Aljibreen, Partner at Merak Capital. "Their technology-first approach aligns with our vision, and we believe that their unique strategy has the potential to transform the healthcare industry in Saudi Arabia and beyond", he concluded.
Raed Health's innovative approach to health and wellness is gaining momentum, and this investment underscores the company's potential to have a significant impact on the healthcare industry in Saudi Arabia.
Related: What Are The Most Funded Startups in Saudi Arabia?
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