Saudi construction tech Project Suppliers raises $1 million pre-seed
The procurement platform will put the angel-backed round into AI cash flow and financing tools for MEP and construction suppliers.
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Project Suppliers, a Saudi construction and procurement technology company, has raised SAR3.75 million ($1 million) in a pre-seed round, its first outside funding. The capital came from a group of angel investors who were not named.
Hossam Gaber founded the business in 2020 and serves as co-founder and chief executive. Its platform connects buyers and suppliers active in construction and procurement in Saudi Arabia, bundling a search engine built for that market with digital tools for the day-to-day work of buying and selling.
- A sector-specific search engine that helps contractors and suppliers find counterparties.
- Tools for issuing, managing and tracking requests for quotations.
- Transaction tracking and report generation.
By the company's own count, the database holds more than 12,000 suppliers and contractors, and close to 600,000 requests for quotations have been submitted through the platform since it launched.
Cash flow tools built on platform data
The pre-seed money, together with the operational data the platform has accumulated, will go toward a suite of cash flow management products for contractors and suppliers in the mechanical, electrical and plumbing (MEP) and construction sectors.
Project Suppliers plans to apply artificial intelligence to the analysis of that data to produce predictive and financing tools. The aim is to help companies handle liquidity pressure, work around payment and collection cycles that run late, and improve efficiency across the supply chain.
Gaber said the MEP supply and construction sector stands behind many of the large projects underway in Saudi Arabia under Vision 2030, but that it still carries structural problems in cash flow management and in the settlement cycles between contractors and suppliers.
He added that the round reinforces the platform's role in tying operational connectivity to financial tools.
Rollout first, then the wider Gulf
Project Suppliers is preparing to bring the new financial and technology products to contractors and suppliers working across Saudi Arabia's MEP and construction sectors. From there, it intends to extend the same offering into the wider GCC market.
The two parts of the business are meant to feed each other. Quotation requests, transactions and reports generated by suppliers on the platform form the record set that the planned predictive and financing products will draw on, which is why the company describes the capital and the data as funding the next phase together.
Timelines for the product launch and for the regional expansion have not been disclosed.
