- Startup: Data, Logistics.
- Founding date: 2018.
- Country: UAE.
- Investors: A.P. Moller Holding, Quadri Ventures, Saurya Prakash, Wa’ed Ventures, Nakhla Ventures, SOMA Capital, Liquid 2 Ventures.
Tenderd, a heavy equipment management and operations startup, has closed a $30 million Series A funding round led by A.P. Moller Holding, with participation from Quadri Ventures and Saurya Prakash, a product leader at Stripe, Wa’ed Ventures, Nakhla Ventures, SOMA Capital, and Liquid 2 Ventures.
Tenderd’s platform transforms data from heavy equipment used in construction, manufacturing, and logistics operations into actionable insights. Tenderd says its telematics platform provides project owners and contractors access to a tracking system powered by AI, enabling them to increase overall equipment productivity by tracking and running equipment more effectively, resulting in improved efficiency, enhanced safety, and lowered emissions.
Muhammad Zeeshan Hassan, Chief Investment Officer at Wa’ed Ventures, said: “We are excited to double down on our investment in Tenderd as the company transforms data collection and usage in the construction industry, driving AI-adoption to revolutionize one of the most traditional and challenging industries in the region”.
Turki Al Nowaiser, Managing Partner of Nakhla Ventures, added: “We see tremendous potential in Tenderd as a key player in Saudi Arabia’s infrastructure development. The commitment shown by the Saudi government through Vision 2030, evidenced by hosting events like the FIFA World Cup 2034 and Expo 2030, underscores the real and immediate opportunities for growth. We believe Tenderd’s technology will play a crucial role in supporting the sectors that will build the future of Saudi Arabia”.
Arjun Mohan, CEO of Tenderd, commented: “We are happy to share this news and thankful for all the partners who believed in Tenderd’s vision and ability to shape global operations. Tenderd will continue to innovate and grow, impacting sectors that have remained unchanged for decades, but which form the pillars of society. Positioned at the intersection of the digital and physical worlds, our technology allows industries to access unparalleled levels of efficiency, safety, and sustainability”.
Founded in Silicon Valley in US, Tenderd moved its headquarter to UAE, has operations in Saudi Arabia, and currently works with over 300 companies in the world. It stated that capital infusion will fuel technological innovations and enable it to expand its global footprint in its mission to integrate AI with physical operations in the construction, mining and industrial sectors. Tenderd said the backing from partners across logistics, ports, energy, construction, and technology underscores the broad applicability of its technology.
Wa’ed Ventures led the previous and undisclosed funding round of Tenderd. The company’s existing backers include Peter Thiel, Paul Graham, and Y Combinator.