Saudi-based technology-enabled building materials procurement platform BRKZ has secured US $31mn in funding from various investors, including Aramco’s investment arm, Wa’ed Ventures. This fresh capital comprises $13mn in Series B equity and $18mn in growth debt, provided by Stride Ventures.
Wa’ed Ventures co-led the equity funding round with 500 Global also participating. Other equity investors include BECO Capital and Anb Seed Fund.
The newly acquired funds will be instrumental in advancing the development of AI engines. These engines will revolutionise pricing, quotations, payment-term decisions, and fulfilment automation processes.
BRKZ operates an AI-powered procurement platform tailored for the construction and building materials industry. This platform facilitates connectivity between contractors, factories, distributors, and suppliers, both within Saudi Arabia and internationally.
As Saudi Arabia accelerates investment in technology and artificial intelligence, a new wave of startups is targeting traditional sectors that have remained relatively under-digitised for years, with construction and building materials emerging as a major opportunity.Hence then, the article about brkz raises 31mn from investors including wa ed ventures was published today ( ) and is available on ME CONSTRUCTION NEWS ( United Arab Emirates ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.
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