Summary:
- Toolmart, a B2B procurement technology company based in Basra, Iraq, secured Seed funding from Plus VC, Oasis500, and regional angel investors.
- The company plans to use the funds to fuel its growth, expand its team, and enter new markets in the Middle East.
- Founded in 2022, Toolmart simplifies the procurement process for industrial supplies in the Middle East through its scalable, inventory-light platform.
Article:
Toolmart Secures Seed Funding to Accelerate Expansion in the Middle East
Toolmart, a pioneering B2B procurement technology company headquartered in Basra, Iraq, recently announced a successful fundraising round led by Plus VC, Oasis500, and a group of regional angel investors. The exact amount of Seed funding remains undisclosed, but the company has ambitious plans for utilizing the capital to drive its growth trajectory, bolster its team, and establish a stronger presence in new markets across the Middle East.
Established in 2022 by the trio of Shawkat Shegem, Ahmed Al Hinti, and Nadeem Al Salem, Toolmart has revolutionized the sourcing of industrial supplies in the region through its innovative digital platform. By streamlining the procurement process for institutional buyers, Toolmart offers a scalable solution that is both efficient and inventory-light, catering to the specific needs of businesses operating in the Middle East.
The company’s successful entry into the Iraqi market has validated its business model, particularly in complex and high-demand sectors such as oil & gas, construction, NGOs, and other institutional buyers. With a solid track record of traction and positive feedback from clients, Toolmart is now gearing up to expand its operations across the broader Middle East region, marking a significant milestone in its journey towards becoming a key player in the B2B procurement landscape.
In conclusion, Toolmart’s recent funding success underscores its commitment to innovation and growth in the competitive market of B2B procurement technology. As the company prepares to scale its operations and reach new heights, it continues to demonstrate its ability to meet the evolving needs of businesses in the Middle East, setting a benchmark for efficiency and excellence in the industry.
Published by FinSMEs on 26/05/2025
