BRKZ gets $8m for its MENA-focused construction tech solution
TLDR
- Saudi Arabia's BRKZ, a B2B contech startup, secures $8 million in Series A funding co-led by 9900 and BECO Capital.
- Investors include Aramco’s Wa’ed Ventures, Knollwood Investment Advisory, RZM Investment, and MISY Ventures.
- BRKZ plans to expand operations beyond Saudi Arabia, aiming to be a one-stop-shop for the construction industry.
Saudi Arabia-based construction technology (contech) startup BRKZ has successfully raised an $8 million Series A funding round, co-led by 9900 and BECO Capital. The investment also includes participation from Aramco’s Wa’ed Ventures, Knollwood Investment Advisory, RZM Investment, and MISY Ventures.
Established in 2022 by Ibrahim Manna, BRKZ operates as a B2B contech platform, offering a wide range of suppliers and materials to the construction industry. Additionally, it provides multiple delivery and payment options to its customers.
With the new funding secured, BRKZ aims to expand its presence not only across Saudi Arabia but also beyond its borders. The company's goal is to become a comprehensive solution provider, positioning itself as a one-stop-shop for the construction industry.
Key Takeaways
Saudi Arabia, along with the broader MENA region, stands on the brink of becoming a major global construction hub, fueled by trillion-dollar infrastructure and real estate projects currently underway. However, despite the sector's rapid expansion, it remains heavily reliant on traditional practices, resulting in project delays and rising costs. Unlike sectors such as financial services or e-commerce, Africa's construction industry has historically been slower to adopt innovation or digitalization. Nevertheless, this sluggishness doesn't stem from a shortage of promising startups in the sector. On the contrary, numerous startups are actively working to seize opportunities in an industry projected to sustain its growth trajectory.
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