Saudi construction technology startup BRKZ has successfully closed a $17 million Series A funding round. The investment was led by a notable venture firm, which previously participated in the company's seed round. BRKZ operates as a B2B marketplace that facilitates the procurement and financing of goods for contractors in Saudi Arabia. The significant scale of construction activity in the Kingdom has been highlighted as a driving factor for this investment, with references made to the company's co-founder, Ibrahim, who previously played a key role in the successful exit of Careem, valued at over $3 billion. This funding round is noted as one of the largest Series A rounds for a Middle Eastern company, indicating a growing interest in the region's technology sector.
Saudi construction tech Brkz raises $17m series A https://t.co/8rXclbFCxA
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We led the seed round in BRKZ, a B2B construction marketplace that procures & finances goods for contractors in KSA. Today they announced a $17M Series A. No-brainer investment; scale of construction in KSA is unprecedented + Ibrahim helped build Careem to a $3B+ exit. Read: https://t.co/B4LXI7CpFa