UAE-Based Healthtech Firm Klaim Raises $26M For AI-Powered Payments

Klaim, a UAE-based healthtech company specializing in AI-driven healthcare payment solutions, has raised $10 million in Series A equity funding, along with $16 million in financing.

The funding will support Klaim’s expansion across the UAE, Saudi Arabia, Oman, and other regions while enhancing its technology to speed up medical insurance claims processing to just 24 hours.

Founded in 2019 and headquartered in Abu Dhabi, Klaim leverages artificial intelligence and data analytics to help healthcare providers manage insurance claims more efficiently. By tackling delays and inefficiencies in payment processing, the company aims to streamline financial operations for clinics and hospitals across the MENA region.

The investment highlights the growing investor interest in healthtech across the Middle East. The industry has seen rapid expansion, with MENA healthcare startups raising $72 million in 2020 alone, a 280% increase from the previous year, according to a report from Wamda. In 2022, healthtech companies in the MENA region have reached a combined valuation of over $1.5 billion, a 22-fold increase since 2016.