BRKZ Raises $31M to Scale AI Construction Procurement

BRKZ secures $31 million funding to expand AI-driven construction procurement platform

Riyadh-based startup BRKZ has successfully raised $31 million in a mix of equity and debt funding to bolster its procurement platform. The capital infusion comes from a $13 million Series B round led by Wa’ed Ventures and 500 Global, alongside participation from BECO Capital, Anb Seed Fund, and Stride Ventures. The additional financing brings the company's total funding above $70 million.

BRKZ's platform aims to streamline procurement processes for contractors, distributors, and factories, connecting them with a vast network of building material suppliers. The company's technology combines procurement, pricing, logistics, and quality assurance, with a focus on local and international sourcing across thousands of products.

At the heart of BRKZ's offering is an AI pricing engine, which was developed over three years using a proprietary dataset of 38 million structured data points. This dataset covers over 13,000 products and 2,100 supplier profiles and powers an AI engine trained on approximately 40,000 requests for quotations. The engine predicts buying and selling prices for building materials with a high degree of accuracy, often within 5% of final transaction prices.

AI agents, such as BRKZ's Nusa delivery agent, also play a role in the company's daily operations. This agent processes bulk cement deliveries by reading delivery notes sent through WhatsApp and matching them with relevant orders. Once verified, the system ensures correct quantities are delivered before closing completed deliveries. Manual intervention is required only when exceptions arise that need human review.

The AI-powered platform has already processed about three-quarters of delivery notes without manual intervention. It also supports decisions regarding customer payment terms, further enhancing efficiency. BRKZ's platform currently serves more than 1,500 contracting companies and 150 building materials factories, with a network of roughly 2,100 local and international suppliers.

The company has facilitated over $133 million in building material sales and processed more than $1.37 billion in requests for quotations since its inception.