TLDR:
- Saudi Arabia-based BRKZ secures US$8 million in Series A funding to revolutionize the MENA construction industry.
- The funding round was co-led by 9900 and BECO Capital, with participation from Wa’ed Ventures, Knollwood Investment Advisory, RZM Investment, and MISY Ventures.
BRKZ, a Saudi Arabia-based B2B construction tech startup, has raised US$8 million in a Series A round aimed at deepening its capabilities to become a one-stop-shop for the MENA region’s construction industry. The funding was co-led by 9900 and BECO Capital, with participation from other notable investors like Wa’ed Ventures and Knollwood Investment Advisory. This funding brings BRKZ’s total raised amount to $13.55 million, including a previous seed round of $5.55 million.
The founder of BRKZ, Ibrahim Manna, highlighted the startup’s commitment to digitizing buying and selling building materials, promoting transparency, and fostering efficient contractor financing. The strategic initiatives of BRKZ align with Saudi Arabia’s Vision 2030, attracting foreign investors and founders to the region’s construction sector. The startup aims to address critical challenges in the industry such as fragmented supply chains, operational inefficiencies, and lack of access to finances.
BRKZ offers buyers access to best prices from a wide pool of suppliers and materials, along with various delivery and payment options. Suppliers, on the other hand, benefit from a wide customer base and can customize prices based on size, location, and delivery preferences. The platform has facilitated over $170 million in quotations across nearly 1,200 products from more than 350 suppliers.
With its innovative approach and focus on leveraging technology to drive positive change in the construction sector, BRKZ is poised to make a significant impact in the MENA region. The Series A funding round provides the startup with the necessary resources to expand its footprint and further enhance its offerings within the industry.
