The construction procurement is highly fragmented and manual and opaque, forcing the contractor to jug several suppliers, endure long negotiations, and handle delayed payments. In Saudi Arabia, where infrastructure and real estate projects worth $ 10 trillion are in progress, this non -efficiency is more prominent.
To solve this problem, BRKZ, a construction technology start -up headquarters headquartered in Riyadh, offers a technology support management market that simplifies procurement and provides customized financial solutions. The company raised $ 9 million ($ 8 million, $ 1 million), doubling the total Series A fund to $ 17 million and investors doubled.
Aramco’s WAED, BECO Capital, Better Tomorrow Ventures, Class 5 Global, Fluent Ventures, Knollwood Investment Advisory, Misy Ventures, RZM Investment and 9900 Capital Existing investors including areded.
This will follow the $ 8 million series A1 Round BRKZ announced in March.
Ibrahim Manna, a former executive of Uber subsidiary Careem, founded BRKZ in 2023 after experiencing this challenge.
Manna said, “After CAREM exits as Uber, we bought a family house in May 2020 and faced the non -efficiency of the construction supply chain, that is, visibility of material selection, uncertainty about the location of the product, and price volatility. “I have offered a great opportunity to see how old the industry is due to the frustration and to explore.”
Building material sourcing
Manna met with more than 100 suppliers and contractors throughout the UAE, Saudi Arabia and Pakistan, and obtained a clear picture of the construction procurement issue in the region. He found that while the mayor was broken anywhere, Saudi Arabia was prominent as the huge opportunity to be fueled by the vision of 2030 and the powerful market tail.
In BRKZ, contractors and factories can procure essential building materials such as cement, steel and wood. They benefit from transparent prices, in just 20 minutes, and now buy, and later raise funds, and the factory can supply raw materials and expand customer base.
Similarly, the platform reduces the general obstacle of high transportation costs and adjustment problems of the entire region. Over the past year, BRKZ has grown from 1,200 SKUs and 350 suppliers to more than 7,000 SKUs and 1,100 suppliers. Since Series A1, sales have been four times in sales in 2024, and more than 850 contractors and factories have used BRKZ for major projects such as King Salman Park, NEOM and Revea Project.
BRKZ has been actively expanded to more than 40 cities in the central, eastern and western regions of Saudi Arabia, and increased the amount of RFQ from $ 170 million to $ 350 million ($ 1.3 billion) in March. The construction technology company plans to expand its scope to the north and southern regions, Manna pointed out.
Diversification
To go ahead of the curve, BRKZ tries to diversify the sources of revenue, including the current transaction fee and the Pay and Tailed Credit Offess.
Manna says that BRKZ is working with a contractor, but it requires a wide range of sourcing options with a set of customer, suppliers, and customer sets with various requirements, materials and pricing models. The company plans to start importing building materials that are difficult to source in the global market, starting with China and India and Turkey this year.
“We are very happy to build or enable trade corridors between China and Saudi Arabia as contractors, suppliers and other people start importing products that they want to get from China. If data is needed outside of Saudi Arabia, we will get them, display this product in white, and sell them to Saudi contractors, developers and suppliers. Our focus is to get deeper into Saudi Arabia, ”he said. This indicates a change that crosses the MENA area in the early ambition of BRKZ.
In particular, this measure is consistent with China’s efforts to strengthen their relationship with the Middle East in the uncertainty of US trade policy. BRKZ’s import strategy is to consider China’s important role in the Mega -Lojet, such as Saudi Arabia’s construction boom, NEOM and Line, and BRKZ’s import strategy can benefit from the government -level incentives and financing transactions between the two countries.
Full service construction ecosystem
In addition to the materials, BRKZ aims to become a full service construction ecosystem by dealing with four pillars of all projects. It aims to deal with four pillars of projects, such as procurement (today’s core business), finance (BNPL and credit solution), manpower supply and equipment procurement/rent. Manna, managing director of CAREM’s Global Markets, said BRKZ would be an end -to -end platform for contractors and developers when extended to manpower and equipment services.
In addition, the important focus on the product side is to use AI and machine learning to improve the efficiency of contractors and suppliers by automating price predictions, purchasing orders and other internal processes.
The newly raised capital will be a comprehensive procurement hub with the expansion of Saudi Arabia.
“The BRKZ team is pleased to continue to support the next chapter by running a product and operating load map to increase efficiency in this rapidly scaled section. BRKZ’s financial instruments will complement the digitized procurement platform and solve customer cash flows. ”
BRKZ has raised $ 22.5 million in pre-seed and seed runs two years ago, including $ 5.5 million in pre-seed and seed runs. Manna’s evaluation increased by 46% last year, reflecting four times the growth of sales as a positive unit economics.
