Tuba launches in Saudi Arabia with $8 million investment

• Saudi Arabia-based healthtech Tuba has raised $8 million in a pre-seed round led by Al-Waalan Investment with participation from angel investors.
• Founded earlier this year by Fayez Al-Anazi, Tuba leverages artificial intelligence to improve healthcare management by enhancing operational efficiency, reducing costs, and creating more transparent, patient-centric solutions for providers and users alike.
• The funding will be used to build technical infrastructure, expand operations, and grow the team, supporting Tuba’s vision to digitally transform the healthcare sector across Saudi Arabia and beyond.

Press release:

Fayez Al-Anazi, the entrepreneur who transformed the used car market through the founding of the “Syarah” platform, announced the closing of the pre-seed investment round for his new platform “Tuba”, with a total value of 30 million Saudi Riyals (8 million USD). The round was led by Al-Waalan Investment, with participation from a group of angel investors.

Tuba aims to redefine healthcare management by offering innovative technology solutions powered by artificial intelligence, with the goal of improving efficiency and enhancing the experience for both patients and healthcare providers.

Tuba: Innovation Transforming the Healthcare Market

After achieving notable success in transforming the used car sector through innovative digital solutions, Fayez Al-Anazi is now turning his focus to a new, more complex and challenging field — healthcare. His new platform, Tuba, aims to simplify the management of this vital sector through four advanced models powered by artificial intelligence. The goal is to enhance operational efficiency, reduce costs, and deliver more transparent and effective solutions.

Funding to Support Growth and Expansion

Tuba will utilise this investment to achieve its strategic objectives through:

• Developing its technical infrastructure to deliver smarter and more efficient solutions.
• Expanding operations to meet the growing demand for digital solutions in the healthcare sector.
• Strengthening its team and attracting top talent to support future growth and expansion plans.

A Strategic Investment to Advance Innovation in the Healthcare Sector

Mohammed Al-Khalawi, CEO of Al-Waalan Investment, stated:

“The healthcare sector requires more efficient and flexible solutions, and the Tuba platform has both the vision and the technology needed to drive this transformation. Our investment in Tuba stems from our confidence in the team’s ability to deliver innovative solutions that enhance the efficiency of healthcare spending and create a lasting, positive impact in this vital sector.”

A Continued Vision to Redefine Traditional Markets

Fayez Al-Anazi, Founder and CEO of Tuba, said:

“When we launched the ‘Syarah’ platform, our goal was to reshape the used car market through technology and transparency. Today, we see a similar opportunity in the healthcare sector, which lacks modern solutions that keep pace with its growing needs. Through Tuba, we aim to create a significant shift using artificial intelligence, helping make healthcare management more efficient, equitable, and inclusive.”