02-06-2025
Iraq's Toolmart secures seed funding to expand across Middle East
Baghdad ( – Founded by Iraqi entrepreneurs Shawkat Shegem, Ahmed Al Hinti, and Nadeem Al Salem, Toolmart has secured a seed funding round to accelerate its regional expansion.
The investment, led by Plus VC, Oasis500, and local angel investors, will support team growth and help the company establish a presence in new Middle Eastern markets.
Toolmart launched in 2022 with the goal of addressing the persistent inefficiencies in sourcing non-direct industrial supplies—an area that often drains time and resources despite representing a smaller share of procurement budgets. The founders, having experienced these challenges firsthand, developed a tech-driven solution to modernize this outdated process.
The Iraqi startup operates with a lean, inventory-light approach, utilizing a broad vendor network and algorithmic tools to offer buyers optimal choices based on price, delivery time, and product compatibility.
Having proven its model in Iraq's complex industrial landscape, Toolmart has gained traction with major players in oil & gas, construction, NGOs, and institutional sectors. The new funding will help the company scale its operations and bring streamlined procurement to more businesses across the region.
