Saudi Project Suppliers raises $1 million pre-seed

In a significant funding development, Project Suppliers, a Saudi-based construction and procurement technology startup, has successfully raised $1 million (SAR3.75 million) in a pre-Seed funding round. The investment was led by a group of undisclosed angel investors. Established in 2020 by co-founders Husam Jaber and Hossam Gaber, Project Suppliers provides a digital platform facilitating connections between suppliers and buyers within the construction and procurement sectors in Saudi Arabia.

The platform offers specialized tools for sourcing, requesting quotations, tracking transactions, and generating reports. Presently, the company's database comprises over 12,000 suppliers and contractors, with nearly 600,000 requests for quotations processed through the platform. The recently secured funding will be utilized to develop AI-powered cash flow management solutions, including predictive and financing tools, aimed at enhancing liquidity and managing delayed payment cycles for businesses in the MEP and construction sectors.

These solutions will be integrated into the platform's existing data analysis, employing artificial intelligence to provide predictive and financing tools designed to improve supply chain efficiency and mitigate liquidity challenges. The startup's leadership believes that this investment round validates the platform's role as an innovative tool, combining operational connectivity with advanced financial solutions.