Saudi health technology start-up Clinicy has raised funding from Riyadh-based private equity company Mad’a Investment to fuel its expansion across the kingdom.
The company did not disclose the amount of funds raised but said the “seven-figure” investment is among the largest pre-series or early stage growth funding rounds in the country's HealthTech sector this year.
“This investment will allow us to scale the number of medical institutions and patients using Clinicy and further support … [Saudi Arabia’s] healthcare sector,” Clinicy co-founder and managing director Talal Waleed Al-Hussein said on Sunday.
“Our expansion will help [us] … reach a larger segment of customers and focus on creating enhanced experiences and benefits for users.”
Start-ups in the Mena region secured $659 million in funding in the first half of 2021, an annual increase of 35 per cent, according to data platform Magnitt.
Saudi start-ups raised $168m in venture capital funding from 54 deals in the first half of this year, the report said.
About 75 per cent of investors that backed start-ups in the Arab world's biggest economy during the first half were based within the country, Magnitt data showed.
Founded in 2017, Clinicy provides cloud-based integrated technology models to boost efficiency and raise the quality of healthcare services in the country.
Clinicy identified missed appointments, high administrative costs and a lack of communication with patients as three core issues facing Saudi Arabia's healthcare industry.
The average local market's “no-show” rate of patients to attend appointments is more than 30 per cent, costing more than 2.2 billion Saudi riyals ($600m) annually, the HealthTech start-up said. That percentage rate has not changed in two decades.
“In line with Vision 2030 goals to improve the quality and efficiency of the health sector, Clinicy has demonstrated a valuable proposition, which has the power to transform and enhance healthcare services across the entire region,” said Abdullah Al-Othaim, chief executive of Mad’a.
Improving the healthcare sector in partnership with the private sector investors is a key plank of Saudi Arabia’s Vision 2030 programme that seeks to diversify the kingdom's economy and reduce its reliance on oil.
The healthcare sector, especially HealthTech ventures, has garnered the attention of investors amid the pandemic as focus shifts to efficient and innovative patient care solutions.
“As we have all seen over the past year during the pandemic, health care is one of the most important sectors for society,” said Mr Al-Othaim.
“This investment adds to our commitment in supporting businesses that create jobs through innovation.”
THE SPECS
Engine: 3.9-litre twin-turbo V8
Transmission: seven-speed dual clutch
Power: 710bhp
Torque: 770Nm
Speed: 0-100km/h 2.9 seconds
Top Speed: 340km/h
Price: Dh1,000,885
On sale: now
Conflict, drought, famine
Estimates of the number of deaths caused by the famine range from 400,000 to 1 million, according to a document prepared for the UK House of Lords in 2024.
It has been claimed that the policies of the Ethiopian government, which took control after deposing Emperor Haile Selassie in a military-led revolution in 1974, contributed to the scale of the famine.
Dr Miriam Bradley, senior lecturer in humanitarian studies at the University of Manchester, has argued that, by the early 1980s, “several government policies combined to cause, rather than prevent, a famine which lasted from 1983 to 1985. Mengistu’s government imposed Stalinist-model agricultural policies involving forced collectivisation and villagisation [relocation of communities into planned villages].
The West became aware of the catastrophe through a series of BBC News reports by journalist Michael Buerk in October 1984 describing a “biblical famine” and containing graphic images of thousands of people, including children, facing starvation.
Band Aid
Bob Geldof, singer with the Irish rock group The Boomtown Rats, formed Band Aid in response to the horrific images shown in the news broadcasts.
With Midge Ure of the band Ultravox, he wrote the hit charity single Do They Know it’s Christmas in December 1984, featuring a string of high-profile musicians.
Following the single’s success, the idea to stage a rock concert evolved.
Live Aid was a series of simultaneous concerts that took place at Wembley Stadium in London, John F Kennedy Stadium in Philadelphia, the US, and at various other venues across the world.
The combined event was broadcast to an estimated worldwide audience of 1.5 billion.
The years Ramadan fell in May
Ferrari 12Cilindri specs
Engine: naturally aspirated 6.5-liter V12
Power: 819hp
Torque: 678Nm at 7,250rpm
Price: From Dh1,700,000
Available: Now
Company profile
Company: Verity
Date started: May 2021
Founders: Kamal Al-Samarrai, Dina Shoman and Omar Al Sharif
Based: Dubai
Sector: FinTech
Size: four team members
Stage: Intially bootstrapped but recently closed its first pre-seed round of $800,000
Investors: Wamda, VentureSouq, Beyond Capital and regional angel investors
The%20specs
%3Cp%3E%3Cstrong%3EEngine%3A%3C%2Fstrong%3E%206.5-litre%20V12%20and%20three%20electric%20motors%0D%3Cbr%3E%3Cstrong%3EPower%3A%20%3C%2Fstrong%3E1%2C015hp%0D%3Cbr%3E%3Cstrong%3ETorque%3A%20%3C%2Fstrong%3E1%2C500Nm%20(estimate)%0D%3Cbr%3E%3Cstrong%3ETransmission%3A%3C%2Fstrong%3E%20Eight-speed%20dual-clutch%20auto%0D%3Cbr%3E%3Cstrong%3EOn%20sale%3A%3C%2Fstrong%3E%20Early%202024%0D%3Cbr%3E%3Cstrong%3EPrice%3A%20%3C%2Fstrong%3EFrom%20Dh2%20million%20(estimate)%3C%2Fp%3E%0A
Mia Man’s tips for fermentation
- Start with a simple recipe such as yogurt or sauerkraut
- Keep your hands and kitchen tools clean. Sanitize knives, cutting boards, tongs and storage jars with boiling water before you start.
- Mold is bad: the colour pink is a sign of mold. If yogurt turns pink as it ferments, you need to discard it and start again. For kraut, if you remove the top leaves and see any sign of mold, you should discard the batch.
- Always use clean, closed, airtight lids and containers such as mason jars when fermenting yogurt and kraut. Keep the lid closed to prevent insects and contaminants from getting in.
Miss Granny
Director: Joyce Bernal
Starring: Sarah Geronimo, James Reid, Xian Lim, Nova Villa
3/5
(Tagalog with Eng/Ar subtitles)
Blonde
%3Cp%3E%3Cstrong%3EDirector%3A%20%3C%2Fstrong%3EAndrew%20Dominik%3Cbr%3E%3Cstrong%3EStars%3A%20%3C%2Fstrong%3EAna%20de%20Armas%2C%20Adrien%20Brody%2C%20Bobby%20Cannavale%3Cbr%3E%3Cstrong%3ERating%3A%20%3C%2Fstrong%3E3%2F5%3Cbr%3E%3C%2Fp%3E%0A
What can victims do?
Always use only regulated platforms
Stop all transactions and communication on suspicion
Save all evidence (screenshots, chat logs, transaction IDs)
Report to local authorities
Warn others to prevent further harm
Courtesy: Crystal Intelligence
Business Insights
- As per the document, there are six filing options, including choosing to report on a realisation basis and transitional rules for pre-tax period gains or losses.
- SMEs with revenue below Dh3 million per annum can opt for transitional relief until 2026, treating them as having no taxable income.
- Larger entities have specific provisions for asset and liability movements, business restructuring, and handling foreign permanent establishments.
'Jurassic%20World%20Dominion'
%3Cp%3EDirector%3A%20Colin%20Trevorrow%3C%2Fp%3E%0A%3Cp%3EStars%3A%20Sam%20Neill%2C%20Laura%20Dern%2C%20Jeff%20Goldblum%2C%20Bryce%20Dallas%20Howard%2C%20Chris%20Pratt%3C%2Fp%3E%0A%3Cp%3ERating%3A%204%2F5%3C%2Fp%3E%0A
RESULTS
%3Cp%3E%0D5pm%3A%20Deerfields%20%E2%80%93%20Handicap%20(PA)%20Dh80%2C000%20(Turf)%202%2C200m%0D%3Cbr%3EWinner%3A%20Taajer%2C%20Richard%20Mullen%20(jockey)%2C%20Salem%20Al%20Ketbi%20(trainer)%0D%3Cbr%3E5.30pm%3A%20The%20Galleria%20%E2%80%93%20Handicap%20(PA)%20Dh80%2C000%20(T)%201%2C600m%0D%3Cbr%3EWinner%3A%20Zafaranah%2C%20Antonio%20Fresu%2C%20Musabah%20Al%20Muhairi%0D%3Cbr%3E6pm%3A%20Wathba%20Stallions%20Cup%20%E2%80%93%20Maiden%20(PA)%20Dh70%2C000%20(T)%201%2C200m%0D%3Cbr%3EWinner%3A%20Ifahat%20Du%20Loup%2C%20Abdul%20Aziz%20Al%20Balushi%2C%20Sulaiman%20Al%20Ghunaimi%0D%3Cbr%3E6.30pm%3A%20Mazyad%20%E2%80%93%20Handicap%20(PA)%20Dh80%2C000%20(T)%201%2C200m%0D%3Cbr%3EWinner%3A%20AF%20Majalis%2C%20Tadhg%20O%E2%80%99Shea%2C%20Ernst%20Oertel%0D%3Cbr%3E7pm%3A%20Dalma%20%E2%80%93%20Maiden%20(PA)%20Dh80%2C000%20(T)%201%2C400m%0D%3Cbr%3EWinner%3A%20Bassam%20Al%20Wathba%2C%20Bernardi%20Pinheiro%2C%20Majed%20Al%20Jahouri%0D%3Cbr%3E7.30pm%3A%20World%20Trade%20Centre%20%E2%80%93%20Handicap%20(TB)%20Dh80%2C000%20(T)%201%2C400m%0D%3Cbr%3EWinner%3A%20Fawaareq%2C%20Dane%20O%E2%80%99Neill%2C%20Doug%20Watson%3C%2Fp%3E%0A
Jumanji: The Next Level
Director: Jake Kasdan
Stars: Dwayne Johnson, Kevin Hart, Karen Gillan, Jack Black, Nick Jonas
Two out of five stars
Benefits of first-time home buyers' scheme
- Priority access to new homes from participating developers
- Discounts on sales price of off-plan units
- Flexible payment plans from developers
- Mortgages with better interest rates, faster approval times and reduced fees
- DLD registration fee can be paid through banks or credit cards at zero interest rates
Killing of Qassem Suleimani
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
How to avoid crypto fraud
- Use unique usernames and passwords while enabling multi-factor authentication.
- Use an offline private key, a physical device that requires manual activation, whenever you access your wallet.
- Avoid suspicious social media ads promoting fraudulent schemes.
- Only invest in crypto projects that you fully understand.
- Critically assess whether a project’s promises or returns seem too good to be true.
- Only use reputable platforms that have a track record of strong regulatory compliance.
- Store funds in hardware wallets as opposed to online exchanges.
UAE currency: the story behind the money in your pockets
Bert van Marwijk factfile
Born: May 19 1952
Place of birth: Deventer, Netherlands
Playing position: Midfielder
Teams managed:
1998-2000 Fortuna Sittard
2000-2004 Feyenoord
2004-2006 Borussia Dortmund
2007-2008 Feyenoord
2008-2012 Netherlands
2013-2014 Hamburg
2015-2017 Saudi Arabia
2018 Australia
Major honours (manager):
2001/02 Uefa Cup, Feyenoord
2007/08 KNVB Cup, Feyenoord
World Cup runner-up, Netherlands
The specs: 2018 Mercedes-Benz E 300 Cabriolet
Price, base / as tested: Dh275,250 / Dh328,465
Engine: 2.0-litre four-cylinder
Power: 245hp @ 5,500rpm
Torque: 370Nm @ 1,300rpm
Transmission: Nine-speed automatic
Fuel consumption, combined: 7.0L / 100km
ESSENTIALS
The flights
Emirates flies from Dubai to Phnom Penh via Yangon from Dh2,700 return including taxes. Cambodia Bayon Airlines and Cambodia Angkor Air offer return flights from Phnom Penh to Siem Reap from Dh250 return including taxes. The flight takes about 45 minutes.
The hotels
Rooms at the Raffles Le Royal in Phnom Penh cost from $225 (Dh826) per night including taxes. Rooms at the Grand Hotel d'Angkor cost from $261 (Dh960) per night including taxes.
The tours
A cyclo architecture tour of Phnom Penh costs from $20 (Dh75) per person for about three hours, with Khmer Architecture Tours. Tailor-made tours of all of Cambodia, or sites like Angkor alone, can be arranged by About Asia Travel. Emirates Holidays also offers packages.
Quick%20facts
%3Cul%3E%0A%3Cli%3EStorstockholms%20Lokaltrafik%20(SL)%20offers%20free%20guided%20tours%20of%20art%20in%20the%20metro%20and%20at%20the%20stations%3C%2Fli%3E%0A%3Cli%3EThe%20tours%20are%20free%20of%20charge%3B%20all%20you%20need%20is%20a%20valid%20SL%20ticket%2C%20for%20which%20a%20single%20journey%20(valid%20for%2075%20minutes)%20costs%2039%20Swedish%20krone%20(%243.75)%3C%2Fli%3E%0A%3Cli%3ETravel%20cards%20for%20unlimited%20journeys%20are%20priced%20at%20165%20Swedish%20krone%20for%2024%20hours%3C%2Fli%3E%0A%3Cli%3EAvoid%20rush%20hour%20%E2%80%93%20between%209.30%20am%20and%204.30%20pm%20%E2%80%93%20to%20explore%20the%20artwork%20at%20leisure%3C%2Fli%3E%0A%3C%2Ful%3E%0A
