Saudi Construction Tech App Meeda Closes Seed Funding Round from Angel Investors
Meeda (ميدة), a Saudi application specializing in the procurement of construction materials, has announced the successful closing of a Seed funding round. The investment was secured from a group of angel investors.
Meeda Secures Seed Funding to Digitize Construction Supply
The Saudi-based construction technology startup Meeda has closed its Seed funding round, backed by a group of unnamed angel investors. While the specific value of the round was not disclosed, the new capital is earmarked to fuel the company's growth and expansion within the Kingdom's booming construction sector.
A Marketplace for Construction Materials
The Meeda application functions as a comprehensive digital marketplace for construction supplies. It is designed to streamline the procurement process for its clients by allowing them to:
Access a wide range of construction materials, from foundational supplies to final finishing products.
Purchase these materials directly from suppliers.
Compare prices between different options easily.
Track orders conveniently through the app.
This approach simplifies shopping for construction necessities, offering greater transparency and efficiency.
Fueling Partnerships and Expansion
Meeda intends to use the capital raised in this Seed round to pursue several key strategic objectives. The company plans to:
Increase and strengthen partnerships with suppliers of construction materials.
Build more collaborations with real estate developers.
Expand its overall operations to serve a larger market.
About Meeda
Meeda is a Saudi technology platform focused on the construction sector. It provides a digital solution for sourcing and purchasing building materials, aiming to make the process more efficient and transparent for contractors, developers, and individuals.
Looking Ahead
With fresh funding from angel investors, Meeda is positioned to enhance its platform and solidify its role in Saudi Arabia's construction technology (ConTech) landscape. By building a more robust network of suppliers and developers, the company aims to become a key tool for streamlining the construction supply chain in the Kingdom.
Source: Jawlah