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Modern Electronics Company (MEC) supplies consumer electronics, home appliances, and system solutions throughout Saudi Arabia. It acts as a key distributor and service provider, facilitating market access and support for global manufacturers. Strength derives from efficient supply chains and its widespread retail and service network.
Established in 1970, MEC began distributing early consumer electronics, including radios and televisions, for Sony. This capitalized on increasing demand for modern technology in the region. Though founders are not publicly named, the company originated within the AL-Faisaliah Group, securing an early foothold.
MEC serves Saudi Arabian consumers and businesses, providing electronic goods and integrated solutions. Its vision focuses on maintaining market leadership by expanding product offerings and enhancing service infrastructure, including repair centers. It aims to remain a preferred partner for international brands and a trusted regional provider.
Modern Electronics Company has 1 tracked investment across 1 company. The latest tracked deal is $3.5M Series A Extension in Tamatem in February 2020.
| Date | Company | Round | Lead Investor(s) | Co-Investor(s) |
|---|---|---|---|---|
| Feb 14, 2020 | Tamatem | $3.5M Series A Extension | Wamda Capital | North Base Media |