Saudi Aramco’s venture capital fund Wa’ed Ventures has invested in homegrown health technology start-up Athir.

The Saudi Arabian business raised an undisclosed amount from the oil company’s venture unit during its first funding round, which was also participated by RZM Investment and Share Investment, according to entArabi.

Aramco’s Wa’ed is a $500 million fund that seeks to invest in tech-based start-ups.

Athir aims to bridge the gap between medical service providers, patients and insurance firms.

It has developed a cloud-based healthcare information system, revenue cycle management and patients app that have served 200 entities and over 2.3 million patients, according to its website.

(Writing by Cleofe Maceda; editing by Seban Scaria) seban.scaria@lseg.com