Saudi startup Lawazem closes $1.3m seed round

Lawazem, a Saudi-based operational procurement organization, has wrapped up a seed bargain totalling $1.3m. The round was driven by Merak Capital, an innovation trading company authorized by the Capital Market Authority of Saudi Arabia, with investment from Merced, a Saudi VC firm that covers variety of  sectors across the Middle East.

Lawazem, established in 2020 by Abdulhakim Albisher and Nasser Alshaya, is situated as a 'B2B shopping center' and an all inclusive resource for all business acquisition needs, going from VIP visitor administrations to office writing material.

The organization, which announced a normal quarterly development of 150% during 2021, offers a wide scope of administrations and items to its clients, diminishing the time, exertion and expenses of responsive functional acquisition.

Abdulhakim Albeshir, prime supporter and CEO of Lawazem, remarked: "We, at Lawazem, are glad to have been capable in our brief time frame of activity to be a reliable partner to many of our business clients supporting their operational needs while improving efficiency of their operational procurement as the cycle is ordinarily costly and tedious. Lawazem is a new and inventive B2B model unequivocally created for operational procurement of medium to large firms..

"More than 100 firms, both private and government, are utilizing Lawazem to satisfy their operational needs and getting to Lawazem's broad  catalog supported by our partners and merchants. This investment round comes at an early phase of Lawazem's journey, and it will be critical as far as we're concerned as we move to  develop further and upgrade our technology and continuously strive for innovation as well as help in laying out the required framework to address the growing interest for our products and services."

Nasser Alshaya, prime supporter and COO of Lawazem, added: "At Lawazem, we are glad to help  organizations and content to have a more extensive reach to business clients. We are glad for the parrnership we've made and we will keep on banding together with local content providers."

The venture from Merak Capital will empower Lawazem to develop its staff, marketing drives and innovation and technology capabilities.

Ahmed AlJabreen, accomplice at Merak Capital, said: "The market of operational procurement is generally done physically with practically no innovation foundation. Lawazem is ready to be the innovation empowered disruptor for this vertical. With a broadly experienced group in Abdulhakim and Nasser, an amazing development record as well as a gigantic potential and market opportunity we saw in Lawazem what we search for in our portfolio organizations; an incredible open door being executed by an uncommon group."
Ajmal Muhammad 可汗

I am Open-Source Advocate, Cloud Consultant, I have experience in Digital Transformation, Security, Data Analytics, ML/AI, PMO, Product Managment focused on Growth Strategies and enhanced customer experience and Experience design. I’m passionate about creating usable digital products. I have worked with incredibly talented people across different companies. Skilled in Entrepreneurship, Startup, Open Source, Digital Transformation, Cloud, Security, Data Analytics, AI/ML Consulting, Investment Valuation, Seed Capital, Board of Directors and Advisory. Strong business growth professional with a Postgraduate Diploma focused on International Business from University of Cambridge. |► Connect with me on | linkedin

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