BRKZ Raises $31 Million for AI-Powered Construction Procurement Platform
Saudi-based BRKZ, a technology platform for building materials procurement, has secured $31 million in new funding from investors including Aramco’s Wa’ed Ventures and Stride Ventures.
BRKZ, a Saudi Arabian technology company specialising in building materials procurement, has successfully raised $31 million in a new funding round. The investment comprises $13 million in Series B equity and $18 million in growth debt provided by Stride Ventures.
Leading the equity funding round was Wa’ed Ventures, the investment arm of Aramco, with additional participation from 500 Global, BECO Capital, and Anb Seed Fund.
The newly acquired capital is earmarked for advancing the development of BRKZ's artificial intelligence (AI) engines. The company operates an AI-powered platform designed to streamline procurement processes within the construction and building materials sector, connecting contractors with factories, distributors, and suppliers both locally in Saudi Arabia and internationally.
Questions, answered
- What type of funding did BRKZ receive?
- BRKZ received $13 million in Series B equity funding and an additional $18 million in growth debt, totalling $31 million.
- Which investors participated in the funding round?
- Key investors include Aramco’s investment arm Wa’ed Ventures, which co-led the equity round, along with 500 Global, BECO Capital, Anb Seed Fund, and Stride Ventures providing the growth debt.
- What is BRKZ's core business?
- BRKZ operates an AI-powered platform that connects contractors with factories, distributors, and suppliers for building materials, streamlining procurement in the construction industry within Saudi Arabia and internationally.
- How will BRKZ use the new funds?
- The newly secured funds will be primarily used to advance the development and capabilities of BRKZ's artificial intelligence (AI) engines within its procurement platform.
This brief was summarised and rewritten by Gaia Living from public reporting. Figures and details reflect the original sources.
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