Latest news with #Maser
Entrepreneur
29-05-2025
- Business
- Entrepreneur
The Billion-Dollar Ascent of Prateek Suri: From Delhi Grit to Pan-African Power
From bootstrapping a small software company in India to building one of Africa's most influential business empires, luck, resilience, and an unyielding vision have defined Suri's rise. You're reading Entrepreneur Middle East, an international franchise of Entrepreneur Media. Born in Delhi, educated at Modern School, and later BITS Pilani, Dubai, Prateek Suri's journey to becoming Africa's youngest billionaire is nothing short of remarkable. From bootstrapping a small software company in India to building one of Africa's most influential business empires, luck, resilience, and an unyielding vision have defined his rise. Today, he is often portrayed as the richest Indian in Africa, the "Technology Tiger" of the continent, and the mastermind behind Maser, Africa's 7th unicorn. After college, with no capital but a mind full of ambition, Suri launched a software company in India. Software was the only business he could start without substantial investment. But business was in his blood—his father and grandfather were electronics entrepreneurs, and the pull of that legacy was too strong. Using his initial profits, he ventured into consumer electronics, aiming to bring affordability and accessibility to emerging markets. Then came the first great setback—regulatory upheavals and market instability in India wiped out much of his investment. Rather than give up, he pivoted, moving operations to Dubai, the business capital of the Gulf. It was here that fate played its hand. A large shipment of electronics in Dubai unexpectedly found its way to Africa. As Suri tracked the sale, he realized he had accidentally stumbled upon one of the world's most underserved but high-potential markets. Africa was hungry for quality, affordable consumer electronics, and Suri saw an opportunity that no one else did. Thus began his relentless push to democratize access to technology across Africa. Maser, his consumer electronics brand, became a household name. His venture didn't just grow—it exploded, turning into Africa's 7th unicorn, securing multi-billion-dollar valuations, and making Suri the youngest billionaire on the continent. By 2024, Maser caught the attention of global investors and other prominent Asian funds acquired a significant stake, pushing Suri's net worth to the north of US$1.4 billion. He didn't stop at electronics—his holding company, MDR Investments, began dominating mining, AI, infrastructure, and shipping. His ambition had outgrown Africa; he set his eyes on global market. From navigating the struggles of a regulatory upheaval in the Indian market to taking risks in an unknown continent, Prateek Suri's rise is a testament to resilience, adaptability, and vision. As his family office spreads its influence across global markets, one thing is certain: Prateek Suri is not just building companies—he's shaping industries. And just like luck played its part in his journey, it will take a far greater force to stop him now.
Khaleej Times
28-01-2025
- Business
- Khaleej Times
Maser Group: Revolutionising consumer electronics across the Middle East and Africa
In an era defined by technological innovation, Maser, an independent and dynamic start-up, has emerged as a trailblazer in the consumer electronics market. Headquartered in Dubai, the brand has made a name for itself by offering budget-friendly, high-quality electronics tailored to the needs of quality-conscious consumers in the Middle East and African markets. A Meteoric Rise Since its inception, Maser has demonstrated remarkable growth. In 2019, the company sold an impressive 200,000 units in Dubai alone, 70% of which were re-exported to African markets, where they enhanced the lives of countless families through entertainment. This momentum was only the beginning. By 2020, Maser had sold over 600,000 units, more than tripling its volume in just a year. This feat earned Maser the title of the top-selling brand in Africa, as reported by leading publications such as Citizen and IPPmedia. Maser's commitment to affordability and quality has not gone unnoticed. According to a recent survey by Crexcel Market Research in collaboration with the East Africa Herald, Maser was recognized as the most admired technology brand and the top wearable electronics brand across 20 African nations, including Nigeria, Tanzania, South Africa, and Kenya. The survey highlighted Maser's dominance in the low-cost segment, with an impressive 74% market share, outpacing competitors like Hisense (10%), TCL (8%), Xiaomi (6%), and Haier (2%). Disrupting the Market with Affordable Innovation Despite the dominance of global giants like Samsung, Sony, and LG in the premium segment, Maser has carved out a significant niche in the low-cost category. This success is a testament to its ability to provide high-quality, affordable products that resonate with everyday consumers. In less than seven years, the company has become a household name, with its products playing an integral role in the lives of millions. Building on this momentum, Maser is doubling down on its commitment to innovation and growth. The company plans to invest $300 million over the next three years to expand its portfolio, focusing on LED TVs, air conditioners, and washing machines for the Middle East and African markets. The Visionary Behind Maser At the heart of Maser's success is its CEO and founder, Prateek Suri. A visionary leader with a keen eye for identifying market gaps, Suri has transformed Maser from a single-product company manufacturing LED TVs into a multi-million-dollar enterprise offering a diverse range of electronics, including smart TVs, air conditioners, washing machines, and audio systems. His ability to balance day-to-day operations with a forward-thinking vision has set Maser apart in a competitive industry. A Commitment to Shared Values Suri's leadership extends beyond business. On the occasion of India's Republic Day, he shared a heartfelt message reflecting his deep-rooted values of innovation, integrity, and inclusivity. "On this remarkable day, we honour India's journey to freedom. At MDR Investments, part of Maser Group, we draw inspiration from India's resilience and unity. Let's continue to build a future driven by innovation, integrity, and inclusive growth. Jai Hind!" The Road Ahead As Maser continues to expand its footprint in the Middle East and Africa, its focus remains on empowering consumers with affordable, high-quality technology. With plans for substantial investments and a commitment to innovation, the company is well-positioned to maintain its leadership in the low-cost segment and explore new frontiers in the tech industry.
