Saudi Arabia-based construction technology startup BRKZ has secured $31 million in new capital, comprising a $13 million Series B equity round plus debt financing, to scale its AI-powered procurement platform across the Kingdom and the wider MENA region.
BRKZ's platform uses artificial intelligence to streamline construction procurement processes, connecting contractors with suppliers and automating purchase order workflows. The system aims to reduce material costs and delivery times for construction projects, which have been booming across Saudi Arabia driven by Vision 2030 giga-projects.
The construction sector in Saudi Arabia is one of the largest in the Middle East, with hundreds of billions of dollars in active projects including NEOM, The Line, and the Red Sea Project. Digital transformation of procurement in this sector represents a significant market opportunity.
The funding round comes at a time when Saudi Arabia is actively pushing for digital transformation across traditional industries. The Public Investment Fund and various government initiatives have been supporting technology adoption in construction, logistics, and other sectors central to Vision 2030.
BRKZ plans to use the new capital to expand its engineering team, enhance its AI capabilities, and enter new markets across the Gulf region. The company has already processed significant transaction volumes on its platform and aims to become the leading construction procurement marketplace in the region.
