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Islamabad-based healthtech startup MedIQ has raised $1.8 million in a pre-seed spherical to allow companies to offer healthtech providers to their members.
The spherical was co-led by US-based NRD Capital and Karachi-based Cordoba Ventures, a Center East and Pakistan targeted VC fund. The spherical was additionally joined by US-based early-stage investor Seraph Group, TAJDEED, a syndicate of physicians from APPNA (All Pakistani Physicians of North American descent Affiliation), Home of Habib, and main well being tech angel buyers from Silicon Valley.
Inner paperwork seen by Revenue affirm that the quantity raised was $1.8 million within the spherical.
MedIQ was based within the mid of 2020 by Dr Saira Siddiqui and is without doubt one of the uncommon solo feminine based startups. Dr Saira is a healthcare skilled who holds an MBBS, a grasp’s diploma in public well being and a PhD in well being economics.
Earlier than the entrepreneurial run because the CEO of her healthtech startup, sher served because the founding CEO of Punjab Well being Initiative Administration Firm (PHIMC) which was accountable for implementation of the pro-poor micro medical insurance program (Sehat Sahulat) within the province of Punjab.
As an alternative of focusing on the B2C market which is saturated with the presence of a smattering of well-funded healthtech startups like Ailaaj, Oladoc and Healthwire, MedIQ has began off with a deal with enabling companies present healthcare providers via a backend system.
“We develop into their digital healthcare arm which turns into part of the corporate techniques as soon as it’s built-in,” says Dr Saira. She says that the platform covers the continuum of healthcare starting from physician discovery to medication supply, lab testing, and serves as a repository of digital medical data which will be provisioned on-demand at hospitals and clinics, creating interoperability and lowering healthcare prices and time.
“After that should you want nursing care or help, we organize that at affected person’s house and in case that you must be referred to a hospital, we are able to make referrals on aggressive charges.”
In accordance with MedIQ, they’ve 7,000 medical doctors on the platform which embody normal practitioners and specialists from 32 specialties. MedIQ platform operates as a market for healthcare.
Clients can search and join with medical doctors of their selection on the platform and so they can order medicines from a listing of main pharmacies listed on the platform, that are fulfilled utilizing third-party logistics suppliers. The sufferers may also order checks from a listing of laboratories.
MedIQ gives the platform freed from price to its shoppers and makes cash by charging healthcare service suppliers like medical doctors, pharmacies and labs.
MedIQ’s rivals just like the aforementioned Ailaaj, Sehat Kahani and DoctHERs additionally serve B2B shoppers however Dr Saira says that that their moat is secured due to unique agreements with shoppers which restricts entry of competitors for someday.
Whereas MedIQ additionally operates a B2C mannequin to offer tech-enabled healthcare for the mass market via MedIQ app, Dr Saira says that the customer-facing mannequin is small at current and their prime focus is to consolidate presence within the B2B phase.
With the fund elevate, medIQ plans to additional put money into its tech infrastructure to offer holistic digital care to firms and sufferers, primarily based on improvement of AI and Machine Studying instruments utilizing high-quality affected person knowledge. The corporate plans to construct out its providers throughout 20 cities of Pakistan and broaden regionally, apart from spending funds on buyer acquisition.
Pakistan’s on-line jobs advertiser Rozee launches freelancing platform Azadee
Pakistan’s on-line jobs platform Rozee.com right now introduced the launch of an indigenous feelancing platform for Pakistani professionals, known as Azadee.
Rozee constructed this platform on the again of what they are saying are a ten million expert professionals and freelancers on the Rozee platform, with 100,000 employers in Pakistan. The launch comes throughout a troublesome time for the financial system as inflation peaks, companies are both closing or laying folks off, whereas increments are in brief provide.
“Native freelancing is sort of non existent although Pakistan is the fifth largest nation when it comes to worldwide freelancers,” says Rahman. “Since most of the freelancers are already there with us on Rozee and different professionals are additionally very expert, we’re permitting our employers to submit tasks as an illustration for an android app or for making a brand.”
In response to Rozee, its jobs knowledge exhibits a 30% decline in hiring over the past 16 months. As circumstances for companies get powerful, Azadee will allow these companies to fee tasks to expert professionals as a substitute of hiring staff full time, offering earnings stream to such skilled and serving to firms discover staff.
Monis says that brief time period employment is already taking place and it makes extra sense within the present financial circumstances, subsequently, it doesn’t cannibalize the prevailing hiring function of Rozee. “In reality, the businesses could be blissful as a result of they already rent both full time or on a contracutal employment foundation. As a substitute of hiring a full time worker for getting an android app made, they will now freelance it to a talented employee.”
“The fintech platform reshapes Pakistan’s freelance panorama by providing nearly infinite alternatives for freelancers and companies alike. As a substitute of conventional full-time hires that incur substantial prices, this platform permits employers to complement their workforce and proceed to develop on lean budgets,” Shahid Kazi, CEO of Rozee mentioned.
Apart from being a platform connecting professionals with firms for freelancing tasks, Rozee will guarantee funds are made when tasks conclude, and executing formal agreements between events.
The Azadee launch comes on the facet of the launch of Rozee’s monetary wellness platform Rizq, which Rahman dubs as a superapp for freelancers and professionals. Via the Rizq app, professionals and freelancers can save, make investments and handle cash.
A number of the options of the Rizq app would enable professionals and freelancers to spend money on mutual funds, be part of ROSCAs (extra generally often known as committees) and entry loans via Rozee’s companion monetary establishments. The Rizq app would additionally enable them to seek out facet hustles via the Azadee platform.
“We consider Azadee generally is a shot within the arm to spice up a slowing financial system constrained by cashflows,” mentioned Monis Rahman. “We consider vital financial exercise could be generated by re-introducing our proficient professionals and employers to one another via freelancing relationships. Many of those newly minted freelancers will turn into entrepreneurs and entice worldwide tasks and far wanted overseas alternate.”
Bykea managed to dodge a bullet, however will everybody else be as fortunate?
Early on Tuesday final week, one of many main lights of Pakistan’s startup ecosystem grew to become the centre of an embarrassing however seemingly innocent hacking incident. At 12:01 PM within the afternoon a number of Bykea customers obtained a pop-up notification from the applying.
Hackers had breached a 3rd occasion software and despatched two obscene and abusive messages to customers as a nationwide app notification. The incident ignited a firestorm of jokes and mockery on social media, with rival firms becoming a member of in on the enjoyable. Bykea rapidly bounced again from the assault by the top of the day, and affirmed that no private information was leaked.
However this was not a joke. It was a not so nice journey down reminiscence lane for each customers and tech firms alike. Nevertheless, the incident did present that Bykea had realized from the errors of these earlier than them, by solely having an ancillary a part of their enterprise affected. Had they saved delicate person information on their app’s area and had that been compromised, the incident would’ve been much more critical. However what about different firms? Have they realized their classes too? And can they be as fortunate when hackers strike once more?
Let’s begin with what occurred at Bykea final Tuesday.
Why don’t we have now cellphone plans in Pakistan?
Envision this: you’re craving for a smooth new cellphone, however not like the remainder of the world, you may’t simply snag it on a month-to-month plan. No, you and I are pressured to confront the grim actuality of coughing up the total value upfront, or settling for a dinosaur. It’s onerous to shake off the nagging feeling that one thing’s amiss. Why are we being denied the identical privileges as others?
The bitter reality is that our trade is caught in a paradoxical scenario that echoes the infamous Prisoner’s Dilemma in recreation principle. This ageless enigma illustrates how rational decisions can result in catastrophic outcomes. It entails two prisoners, remoted and unable to speak. They’re confronted with a selection — cooperate or betray. Cooperation reaps the best reward, however betrayal is usually chosen. Right here’s the twist — appearing in their very own self-interests doesn’t produce the very best end result.
It’s the last word instance of how communication, relatively than isolation, can result in mutual advantages. This dilemma has confounded economists and philosophers for years. It’s arduous to discover a direct manifestation of this, however Revenue might need simply discovered one. And it could simply clarify why we are able to’t get a cellphone on a contract like our associates abroad.
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