Baghdad - Sharikat Mubasher: Toolmart, a leading B2B tech startup based in Iraq, successfully raised an undisclosed seed round to expand its team and increase its footprint in new markets across the Middle East.

The round was led by Plus VC and Oasis500, and saw participation from prominent regional angel investors, the company announced in a statement yesterday.

Using an inventory-light and capital-efficient model, Toolmart leverages a vast vendor network and algorithmic analysis to provide clients with the most suitable options based on price, delivery, and product fit.

Ahmed Al Hinti, Co-Founder and COO of Toolmart, said: “Toolmart was born from firsthand experience with the persistent inefficiencies that have long plagued the industrial supply chain. By building a tech-first, data-driven platform, we’re enabling smarter, faster, and more cost-effective procurement, empowering businesses to operate more efficiently and focus on their core strengths.”

He highlighted that Toolmart has fulfilled more than 10,000 orders, listed over 35,000 SKUs, and built a growing customer base of more than 100 enterprise clients in over two years.

“In Q1 2025 alone, we achieved 38% growth year-over-year, our strongest quarter to date. We are excited to build on this momentum as we set new milestones and cement our position as pioneers in industrial procurement across the region,” Al Hinti added.

With zero inventory and no bad debt, Toolmart’s model allows it to operate at scale while maintaining strong profit margins, making it one of the most capital-efficient startups in the industrial supply chain space.