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.
