B2B construction tech startup BRKZ, has raised $8 million Series A investment to empower contractors to reach their full potential. The funding round was co-led by 9900 and BECO Capital, with participation from Aramco’s Wa’ed Ventures, Knollwood Investment Advisory, RZM Investment, and MISY Ventures. With this Series A funding round, BRKZ has now raised $13.55 million in total.
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The company’s purpose is to create a tech-enabled ecosystem that will change the construction sector in the Middle East and North Africa, by leveraging technology to ensure that all contractors have fair access to the best market rates. With the help of this additional capital, BRKZ hopes to strengthen its in-house competencies, come closer to serving as the construction industry’s one-stop-shop, and increase its presence in Saudi Arabia and abroad.
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Ibrahim Manna, Founder of BRKZ, commented: “The investment underscores BRKZ’s commitment to digitizing buying and selling building materials, promoting transparency, and fostering efficient contractor financing. It comes at a pivotal moment for BRKZ, enabling us to grow further within the $100 billion construction market here in KSA. We’re set to drive significant change through technology across every single touchpoint relevant to how building materials are sourced and supplied in a sector crucial to our economic landscape.”
Dany Farha from BECO Capital said: “The MENA construction market is full of substantial opportunities both for investors and contractors. BRKZ is well placed and capitalized to be the catalyst to boost development. The investment aligns with Saudi Arabia’s Vision 2030, attracting foreign investors and founders to a flourishing construction sector. BRKZ’s strategic initiatives are aligned perfectly with our investment philosophy at BECO Capital. We’re excited to be part of their journey.”
Chris Corbishley, Managing Partner at 9900, added: “At 9900, we focus on ‘big problems’, identifying extraordinary founders solving for externalities across a range of sectors, globally. Nowhere is this more evident than in the construction sector, an industry marred by inefficiencies resulting in an estimated $1.6 trillion in annual losses to economic actors as well as 5.7 billion metric tonnes of CO2 each year, which accounts for ~26% of global emissions. With their best-in-class procurement platform delivered through the power of technology, we’re excited to be backing Ibrahim and the BRKZ team towards driving positive change for this important economic sector within the MENA region.”
About BRKZ
Founded by Ibrahim Manna in 2022, With a variety of delivery and payment choices, BRKZ provides access to the most competitive pricing from a large pool of suppliers and materials. Most importantly, a simple and quick way to get Quotations using the Website or WhatsApp. Suppliers work with startup in order to have access to a large consumer base.
