Dubai-based Tenderd, a company that enhances equipment operations using AI, has raised $30 million in Series A funding. The round was led by A.P. Moller Holding, a $32 billion investment firm and the parent company of A.P. Moller-Maersk.
New investors in this round include Quadri Ventures, which has also 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 also participated.
This funding will support technological advancements and help Tenderd expand its global reach. The company’s mission is to integrate AI with physical operations in the construction, mining, and industrial sectors.
Chris James, Managing Partner at Quadri Ventures, expressed enthusiasm about Tenderd’s AI analytics platform, highlighting its value across asset-heavy industries like construction, energy, logistics, mining, and marine.
Muhammed Zeeshan Hassan, Chief Investment Officer at Wa’ed Ventures, emphasized their continued investment, noting Tenderd’s role in transforming data collection and AI adoption in the construction industry.
Chetan Mehta, Head of Growth Equity at A.P. Moller Holding, praised Tenderd’s telematics solutions for improving operational efficiencies, safety, and reducing carbon emissions.
Turki Al Nowaiser, Managing Partner of Nakhla Ventures, recognized Tenderd’s potential in supporting Saudi Arabia’s infrastructure development, particularly in light of Vision 2030 initiatives.
Founded in 2018 by Arjun Mohan, Tenderd aims to automate and orchestrate machines to build a sustainable future. The company offers AI-generated insights to boost asset utilization and reduce emissions, targeting industries like construction and logistics.
Operating in the UAE and KSA, Tenderd collaborates with over 300 companies globally. Its platform converts data from heavy equipment into actionable insights, enhancing efficiency, safety, and sustainability for project owners and contractors.
Arjun Mohan, CEO of Tenderd, expressed gratitude for the support from partners and reiterated the company’s commitment to innovation and growth, aiming to impact sectors fundamental to society.
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By Proptechbuzz
By Ravi Kumar