Riyadh – Sharikat Mubasher:  Entrepreneur Fayez Al-Anazi, best known for transforming the used-car market with his Syarah platform, announced closing a SAR 30 million (US $8 million) pre-seed round for his new health-tech venture, Tuba.

The round was led by Al-Waalan Investment and joined by a consortium of angel investors, according to a recent press release.

Tuba leverages artificial intelligence to streamline healthcare management across four advanced modules, aiming to boost operational efficiency, cut costs, and improve transparency for patients and providers alike. The fresh capital will fund the development of Tuba’s technical infrastructure, support market expansion, and help recruit top talent to accelerate growth.

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."

Meanwhile, 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."