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Saudi Arabia-based B2B construction technology startup BRKZ has raised US$8 million in a Series A round that will be used to deepen its unique capabilities to become more of a one-stop shop for the construction industry in the MENA region. The startup also aims to expand its footprint across Saudi Arabia and the MENA region.
The funding round was co-led by London-based multi-stage fund 9900 and Dubai-based early-stage VC firm BECO Capital, and is a joint venture between global investment firm Headquartered in Baltimore and Riyadh-based Aramco. Wa'ed Ventures also participated. They are holding company RZM Investment and Swedish venture capital firm MISY Ventures.
BRKZ founder Ibrahim Mana said: “This investment underscores BRKZ's commitment to digitizing the buying and selling of building materials, promoting transparency and facilitating efficient financing for contractors.” said. “This is a pivotal time for BRKZ, allowing us to further grow within the $100 billion construction market here in Saudi Arabia.Through technology, we will We're going to drive big change across every touchpoint,” areas that are critical to our economic landscape. ”
Danny Farha, CEO of BECO Capital, said: “The MENA construction market is full of great opportunities for both investors and contractors. “This investment is in line with Saudi Arabia's Vision 2030 and attracts Saudi Arabia.” ”
9900 Managing Partner Chris Corbishley said: “At 9900, we focus on 'big problems' identifying outstanding founders who are solving externalities across a variety of sectors around the world. Nowhere is this more evident than in the construction sector, where the industry has been hurt,” he added. Inefficiencies cost economic actors an estimated $1.6 trillion annually and generate 5.7 billion tons of CO2 each year, representing about 26% of global emissions. We are excited to support Ibrahim and his BRKZ team in bringing about positive change in this important economic sector within the MENA region. ”
BRKZ raised a total of $13.55 million in this Series A funding round. This comes as the company previously raised a $5.55 million seed round by Better Tomorrow Ventures with participation from Class 5 Global, Knollwood Investment Advisory, Plus VC, and several other strategic Saudi angels.Investor
Founded in 2022, BRKZ tackles critical challenges in the construction industry, including supply chain fragmentation, operational inefficiencies and lack of access to finance.
BRKZ provides purchasers of building materials with access to the best prices among a wide range of suppliers and materials, as well as multiple shipping and payment options. Plus, you can quickly and easily request a quote via WhatsApp or our website.
Simplified BRKZ allows suppliers to customize prices depending on size, location, and shipping options. They also benefit from his BRKZ's wide customer base.
To date, BRKZ has assisted in more than $170 million in estimates across approximately 1,200 products from more than 350 suppliers.
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