BRKZ, a pioneering B2B construction tech startup specializing in materials procurement for construction projects, has secured an $8 million investment to empower contractors in the MENA region. The total value of infrastructure, transport, and building projects in the region is estimated at $2.5 trillion, highlighting the significant opportunities for growth.
The funding round was co-led by 9900 and BECO Capital, with participation from Aramco’s Wa’ed Ventures, Knollwood Investment Advisory, RZM Investment, and MISY Ventures. This series A funding round brings BRKZ’s total funding to $13.55 million. The startup’s seed round was led by Better Tomorrow Ventures, showcasing strong support from investors.
BRKZ offers buyers access to the best prices from a wide pool of suppliers, along with multiple delivery and payment options. Suppliers benefit from access to a broad customer base and a simplified portal to customize prices. To date, BRKZ has facilitated over $170 million in quotations across nearly 1200 products from over 350 suppliers.
Ibrahim Manna, Founder of BRKZ, emphasized the importance of digitizing the buying and selling of building materials to promote transparency and efficiency in the construction sector. With this investment, BRKZ aims to further expand its presence in the $100 billion construction market in Saudi Arabia, driving positive change through technology.
Dany Farha from BECO Capital highlighted BRKZ’s strategic alignment with Saudi Arabia’s Vision 2030 and the opportunities for growth in the construction sector. Chris Corbishley, Managing Partner at 9900, emphasized the importance of addressing inefficiencies in the construction industry through technology.
BRKZ’s mission is to revolutionize the buying and selling of building materials through a managed marketplace, focusing on digitization and transparency. The startup is backed by leading venture capital firms, reflecting strong confidence in its innovative approach to the construction materials market.
Overall, BRKZ’s new funding will enable the startup to enhance its capabilities, become a one-stop-shop for the construction industry, and expand its footprint across Saudi Arabia and beyond. This expansion will contribute to the growth and efficiency of the construction sector in the Kingdom of Saudi Arabia and the MENA region.