BRKZ, Construction-Tech Startup Targeting MENA, Emerges with $8M Funding

BRKZ, Construction-Tech Startup Targeting MENA, Emerges with $8M Funding

Saudi Arabia stands on the cusp of becoming a global construction powerhouse, fueled by its trillion-dollar infrastructure initiatives and burgeoning real estate ventures. Despite this growth trajectory, the sector remains entrenched in conventional practices, resulting in project disruptions and escalated costs, according to Ibrahim Manna, the founder and CEO of BRKZ.

BRKZ, headquartered in Riyadh, addresses the challenges prevalent in the procurement of building materials across Saudi Arabia and the wider MENA region. Manna, citing the need for innovation, launched BRKZ in 2022 to revolutionize traditional procurement methods.

With an $8 million Series A round, BRKZ emerges from stealth, co-led by Beco Capital and 9900 Capital. This funding round sees participation from prominent investors including Aramco’s Wa’ed Ventures, Knollwood Investment Advisory, RZM Investment, and MISY Ventures. This follows a previous $5.55 million seed round led by Better Tomorrow Ventures, with contributions from Class 5 Global, Knollwood Investment Advisory, Plus VC, and Saudi angel investors.

With the infusion of capital, BRKZ aims to expand its B2B marketplace across Saudi Arabia and the MENA region. It seeks to facilitate seamless procurement for contractors and manufacturers, prioritizing same or next-day delivery. Additionally, BRKZ plans to diversify its services into equipment rentals and manpower sourcing.

Manna outlines key strategic focuses, including bolstering in-house tech capabilities, enhancing financing solutions, and ensuring comprehensive supplier coverage throughout Saudi Arabia. The company also aims to strengthen its vertical integration with suppliers to optimize the supply chain. Expansion within the MENA region remains pivotal to BRKZ’s growth strategy.

BRKZ adopts a Request for Quotation (RFQ) system, enabling buyers to customize and negotiate bulk orders efficiently. Since its inception, BRKZ claims to have facilitated over $170 million in quotations across nearly 1,200 products from more than 350 suppliers.

In reflecting on BRKZ’s impact, Manna emphasizes the time-saving benefits for customers. The digitization of traditional procurement processes streamlines operations, allowing project management from remote locations. BRKZ endeavors to enhance efficiency and agility within the construction industry.

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