Venture studio · Riyadh, Kingdom of Saudi Arabia
Breakthroughs are built here, not imported.
KaRama originates, co-founds, and capitalizes health technology companies from inside the SFDA campus in Riyadh — and carries them through regulatory approval to their first Kingdom contract.
Explore the portfolioKaRama's 2025 studio report
Every year we take stock of what the studio built, what it cleared, and what it sold — company by company.
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Eleven companies, by studio stage.
Snapshot as of July 1, 2026
Areas of focus
Three areas where the Kingdom's demand has outrun its supply.
We build only where a Saudi health system has told us what it cannot buy.
Biotech
Diagnostics and precision medicine built around the regional disease and allergen profile, which imported panels consistently miss.
Medtech
Devices and connected care aimed at the primary care layer and the privatizing hospital clusters, cleared through the SFDA rather than adapted after the fact.
AI and automation
Clinical decision support, diagnostic automation, and operational modeling — trained on Saudi protocols and delivered in Arabic first.
How we build
Four stages. We stay through all of them.
STAGE 01
Originate
We start from an unmet need inside a Saudi health system, not from a deck in an inbox. Clinical partner first, thesis second.
STAGE 02
Incorporate
We co-found. Entity, cap table, first hires, first capital off our own balance sheet. Founders own the company; we own a founder's stake.
STAGE 03
Localize
SFDA pathway, data residency, Saudization, Ministry of Health procurement readiness. The stage that kills imported startups is the one we are built for.
STAGE 04
Scale
First paying cluster, then the Gulf, then the syndicate. We open the round to outside capital once the contract is signed.
About KaRama
Resident on the regulator's campus, by design.
Saudi Arabia is running the largest healthcare transformation on earth. Capital is arriving ahead of companies, and the bottleneck is not money — it is company formation. KaRama sits where the science, the regulator, and the buyer are all within driving distance of one another, and assembles the company in between.
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