Dubai-based Tenderd, which helps companies supercharge their equipment operations using AI, has closed $30 million in Series A funding. The round was led by A.P. Moller Holding, a $32 billion investment company and parent company of the A.P. Moller Group, which includes A.P. Moller-Maersk.
New investors in the round include Quadri Ventures (invested in SwiftConnect and Fyma) and Saurya Prakash, a product leader at Stripe. Existing investors Wa’ed Ventures, Nakhla Ventures, SOMA Capital, Liquid 2 Ventures, Peter Thiel, Paul Graham, and Y Combinator have also re-invested.
Funds utilisation
The capital will fuel technological innovations and enable Tenderd to further expand its global footprint in its mission to integrate AI with physical operations in the construction, mining, and industrial sectors.
Investors’ views
Chris James, Managing Partner at Quadri Ventures, said: “We are thrilled about Tenderd’s integrated AI analytics platform. Its versatility and impact for different assets and brands makes it extremely valuable across asset-heavy industries such as construction, energy, logistics, mining, and marine. We look forward to supporting Arjun and the team with Tenderd’s global expansion and helping to contribute to their ongoing growth and success.”
Muhammed 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 revolutionise one of the most traditional and challenging industries in the region.”
Chetan Mehta, Head of Growth Equity at A.P. Moller Holding, said: “Tenderd is a leader within telematics solutions with a platform that offers real-time visibility and insights for heavy equipment across a range of industries. Their solutions enhance operational efficiencies, improve safety, and mitigate carbon emissions. We are excited to be investing in Tenderd and we look forward to contributing to their continued growth.”
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.”
AI-powered analytics platform for fleet operations
We depend on machines to build our houses, deliver our food, and power our internet. Machines are the backbone of these services and we believe that their automation is an eventuality. Founded in 2018 by Arjun Mohan, Tenderd’s vision is to sustainably help build humanity’s future by orchestrating and automating machines. It provides customers with AI-generated insights to increase asset utilisation and reduce emissions, targeting heavy industries such as construction and logistics.
Born in Silicon Valley, its operations are in the UAE and KSA. It works with over 300 companies in the world.
Tenderd’s platform transforms data from heavy equipment used in construction, manufacturing, and logistics operations into actionable insights. It 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 increased efficiency, enhanced safety, and lowered emissions.
Arjun Mohan, CEO of Tenderd, shared his vision for the company, stated, “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.”
What do we think about Tenderd?
Given that the company raised funding from existing backers, it reinforces their continued confidence in its growth. The backing from partners across logistics, ports, energy, construction, and technology underscores the broad applicability of its technology. We can expect Tenderd to be one of the leaders in the rapidly sector.
