# mNectar

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/mnectar

- Industry: Marketing/Advertising
- Headquarters: San Francisco, US
- Website: www.mnectar.com
- Total disclosed funding: $7M
- Latest round: Series A (Jun 16, 2014)
- Investors on record: 2

## About

mNectar is a specialized company focused on developing innovative vehicle license plate systems to enhance traffic regulation and vehicle identification in Saudi Arabia and potentially beyond.Founded in 2012, mNectar operates out of San Francisco, US, specializing in vehicle license plate systems. The company has completed 2 deals to date, with its most recent funding round being a Series A in January 2015, raising USD 1.00 mn. The firm does not have any known subsidiaries or parent companies. Further details about the company's founders or their prior ventures are not available.mNectar specializes in vehicle license plate systems within the Kingdom of Saudi Arabia, offering a variety of license plates including standard, temporary, diplomatic, and specialty plates. Each type of plate is designed with unique colors and insignia, facilitating vehicle identification and enhancing road safety. Their products cater to individual vehicle owners, government entities, and commercial businesses, playing a vital role in the country’s traffic management infrastructure.The company generates revenue through the sale and issuance of vehicle license plates, employing a direct-to-consumer model alongside B2B transactions with governmental agencies. Fees for standard and specialty plates vary based on their design and classification, facilitating consistent revenue through partnerships with local governments and additional services such as vehicle registration and compliance assistance.mNectar plans to further develop its product range, focusing on upcoming new license plate designs that align with evolving traffic regulations. The company aims to expand its services to other Middle Eastern markets by 2025, leveraging its recent funding of USD 1.00 mn from January 2015 to support these initiatives.

## Funding rounds

- Series A, Jun 16, 2014, $7M — New Enterprise Associates, XG Ventures

## Investors

- New Enterprise Associates (https://capitalatlas.ai/funds/new-enterprise-associates) — Series A
- XG Ventures (https://capitalatlas.ai/funds/xg-ventures) — Series A