Project Suppliers raises $1 million to build AI cash-flow tools for construction

What's the deal? Project SuppliersDealroom has a profile for this one. Try Dealroom →, a Saudi platform connecting suppliers and buyers in the construction and supplies sector, has closed a pre-seed round of 3,750,000 SAR (roughly $1 million). The round drew participation from a group of angel investors.

What's the endgame? The company wants to use its operational data to build a suite of cash-flow management solutions for firms in electrical and mechanical (MEP) supplies. It plans to apply artificial intelligence to offer predictive and financing tools that ease liquidity pressure and shorten collection cycles.

Why now? Project Suppliers says the raise follows strong operational growth. Its database holds more than 12,000 suppliers and contractors, and the platform has processed close to 600,000 quote requests.

Chief executive officer and co-founder Hossam Jaber said the round comes "at a pivotal time" to confirm the platform's role as a tool combining operational matching with smart financial solutions. He described the MEP and construction sector as "the backbone of major projects" in Saudi Arabia under Vision 2030, while facing structural challenges in managing cash flow and settlement cycles. (Translated from Arabic.)

The signal: The deal lands as Saudi Arabia pushes fintech adoption and construction-sector development. Project Suppliers is preparing to launch its new financial and technical tools for the electromechanical and construction market across the kingdom and the Gulf.

Read more: entarabi.com

Image credit: Generated with Gemini