Babylist, the baby-commerce discovery and transaction destination, today announced it has raised $40 million in Series C funding led by new investor Norwest ...

BRKZ attracts $31 million with Wa'ed backing. Tue 15 Sep 2026 · AP News Saudi building materials procurement platform BRKZ has raised $31 million in fresh capital, with Aramco-backed Wa'ed Ventures co-leading a $13 million Series B equity round alongside 500 Global. The financing also includes an $18 million growth-debt commitment from Stride Ventures, part of a previously announced $30 million venture-debt facility. BECO Capital and ANB Seed Fund participated in the equity round, BRKZ said on Monday. The Riyadh-based company plans to use the money to expand its artificial intelligence capabilities across quotation, pricing and fulfilment, widen embedded financing for contractors and suppliers, and strengthen cross-border sourcing from major manufacturing markets including China and India. BRKZ said revenue is on track to triple in 2026 after growing 2.5 times in 2025, despite supply-chain disruption and volatile material prices across the Middle East. The company now serves more than 1,500 contracting companies and 150 building-materials factories, supported by about 2,100 local and international suppliers. Since inception, BRKZ says it has sold more than $133 million, or about 500 million riyals, of raw, local and imported building materials and processed more than $1.37 billion, or 5.13 billion riyals, in requests for quotation through its platform. Founder and chief executive Ibrahim Manna said the financing would allow BRKZ to build on the supply network, infrastructure and data assembled during its first years of operation. He said contractors and factories continued to demand reliable material access, competitive pricing and dependable fulfilment even during periods of regional disruption. Wa'ed Ventures chief executive Anas Alghatani said the investor's continued support reflected confidence in BRKZ's ability to make building-material procurement more efficient, connected and data driven. Wa'ed Ventures, wholly owned by Aramco, describes itself as a $500 million venture-capital fund focused on technology companies and the development of Saudi Arabia's startup ecosystem. The round gives BRKZ additional resources to automate a procurement process that remains heavily dependent on manual sourcing, negotiations and fragmented logistics. The company operates a platform through which contractors, distributors and factories can source local, imported and raw materials while BRKZ manages pricing, quality assurance, logistics and commercial terms. Its AI pricing engine draws on about 38 million structured data points covering more than 13,000 product records and over 2,100 supplier profiles. BRKZ says the engine has been trained on around 40,000 requests for quotation and that 84% to 89% of its price predictions come within 5% of the final transacted price. The company is also using AI agents in parts of its daily operations. Its delivery system, called Nusa, reads photographs of delivery notes sent by transporters through WhatsApp, matches them with orders, verifies quantities and closes completed bulk-cement deliveries, with employees handling exceptions. BRKZ says roughly three-quarters of delivery notes are processed without manual override. The new capital will also support financing products intended to address working-capital pressures faced by construction businesses. Stride Ventures' debt commitment is designed to help BRKZ fund working capital and offer more flexible payment terms to customers while the company expands procurement volumes. BRKZ has been scaling alongside Saudi Arabia's large construction pipeline, supplying contractors and businesses linked to projects including Diriyah, Qiddiya, ROSHN, King Salman Park and The Red Sea development. Earlier this year, it also received a strategic investment from SIDF Investment Company, the investment arm of the Saudi Industrial Development Fund. The company's expansion strategy centres on increasing direct supply corridors for specialised and private-label building materials as well as broadening domestic supplier coverage. BRKZ says the model gives customers a single procurement relationship across sourcing, transport and payment, while allowing suppliers to reach contractors beyond traditional geographic markets. Its financing tools are intended to align payment schedules more closely with construction project cash-flow cycles. Follow Arabian Post. Select Arabian Post as your preferred source on Google and MSN News for trusted business news and Arab politics and updates. Notice an issue? Arabian Post strives to deliver the most accurate and reliable information to its readers. If you believe you have identified an error or inconsistency in this article, please don't hesitate to contact our editorial team at editor[at]thearabianpost[dot]com. We are committed to promptly addressing any concerns and ensuring the highest level of journalistic integrity.