Saudi Arabia-based construction technology startup BRKZ has raised $31 million to expand its AI-powered procurement platform for building materials.
The round includes a $13 million Series B co-led by Wa’ed Ventures and 500 Global, with participation from BECO Capital and ANB Capital. It also includes an $18 million growth debt commitment from Stride Ventures under BRKZ’s previously announced $30 million venture debt facility.
Founded in 2022 by Ibrahim Manna and headquartered in Riyadh, BRKZ connects contractors and businesses with local and international suppliers. Its platform supports sourcing, pricing, logistics and flexible payment solutions.
The company said it will use the funding to improve its AI-powered quotation, pricing and fulfilment tools, deepen its supply-chain integration, expand embedded financing and scale cross-border sourcing, including supply corridors with China and India.
BRKZ has raised more than $70 million in equity and debt since inception. Its Series B remains open to additional strategic investors, according to the company. Earlier this year, it also received an undisclosed strategic investment from SIC, the investment arm of the Saudi Industrial Development Fund.
Source: Wamda
