Toolmart Secures Seed Funding to Transform Industrial Procurement in MENA
Deal News | May 26, 2025 | Zawya
Toolmart, a B2B tech startup founded in 2022 by Shawkat Shegem, Ahmed Al Hinti, and Nadeem Al Salem, has successfully raised a seed funding round. This round was led by Plus VC and Oasis500, alongside regional angel investors, to support its efforts in revolutionizing industrial procurement across the Middle East. The company's platform addresses inefficiencies in industrial supply procurement, providing solutions that save time, reduce costs, and enhance efficiency. Toolmart aims to expand further into the Middle East following its success in Iraq, with notable traction from key sectors such as oil & gas and construction. With over 10,000 fulfilled orders and significant business growth, Toolmart deploys an inventory-light, machine-learning-based system to optimize procurement processes. Its scalable business model is supported by impressive growth metrics, which has been cited by major investors as a key reason for their participation.
Sectors
- Industrial Supply Chain
- Technology
- Venture Capital
Geography
- Middle East – The article centers on Toolmart's operations and expansion plans across the Middle East region.
- Iraq – Toolmart's successful model validation in Iraq signifies its importance as a market within the article's context.
Industry
- Industrial Supply Chain – The article focuses on Toolmart's efforts to innovate and modernize the industrial supply chain sector through digital platforms.
- Technology – Toolmart is a tech startup leveraging technology to enhance procurement processes, showing relevance to the technology sector.
- Venture Capital – The article discusses seed funding led by VC firms Plus VC and Oasis500, highlighting its connection to venture capital investments.
Financials
- Seed Funding (Sum not disclosed) – Seed funding round led by Plus VC and Oasis500 to fuel Toolmart's growth and expansion to new MENA markets.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Toolmart | Target Company | Company | A B2B procurement technology company streamlining industrial supplies sourcing across the Middle East. |
| Plus VC | Lead Investor | Company | A venture capital firm leading the seed funding round for Toolmart's expansion. |
| Oasis500 | Investor | Company | A venture capital firm participating in the seed funding round of Toolmart. |
| Shawkat Shegem | Co-Founder and CEO | Person | Co-founder and CEO of Toolmart, leading the company's innovative procurement efforts. |
| Ahmed Al Hinti | Co-Founder and COO | Person | Co-founder and COO of Toolmart, focusing on operational transformation of procurement. |
| Nadeem Al Salem | Co-Founder | Person | Co-founder of Toolmart, contributing to its strategic direction and innovation. |
| Hasan Haider | Founder and Managing Partner at Plus VC | Person | Participated in the funding round for Toolmart, highlighting the company's investment prospects. |
| Luma Fawaz | CEO of Oasis500 | Person | CEO of Oasis500, involved in funding Toolmart’s digital initiative in supply chain management. |