Tenderd, the UAE startup for heavy equipment management and operations’ digital transformation, has raised $30 million in Series A funding. The round was led by the $32 billion investment company AP Moller Holding, parent of the AP Moller Group, which includes AP Moller-Maersk. Other investors included Saurya Prakash, a Stripe and Quadri Ventures product leader.
The round saw participation from existing investors – Liquid 2 Ventures, Nakhla Ventures, Wa’ed Ventures, and SOMA Capital. Tenderd’s backers include Paul Graham, Founder of Y Combinator, and Peter Thiel.
Arjun Mohan, CEO of Tenderd, stated in a press note, “Tenderd will continue to innovate and grow, impacting sectors that have remained unchanged for decades but form the pillars of society. Positioned at the intersection of the digital and physical worlds, our technology allows industries to achieve unparalleled efficiency, safety, and sustainability levels.”
The capital infusion will drive technological innovations and enable Tenderd to expand its global footprint, integrating AI with physical operations in the construction, mining, and industrial sectors.
Founded in 2018 by Arjun Mohan, the startup provides customers with AI-generated insights to increase asset utilisation and reduce emissions. It targets heavy industries such as construction and logistics.
The platform converts data from heavy construction, manufacturing, and logistics equipment into actionable insights.
Chetan Mehta, Head of Growth Equity at A.P. Moller Holding, stated, “Tenderd is at the forefront of telematics solutions, offering real-time visibility and insights for heavy equipment across various industries. Their solutions enhance operational efficiencies, improve safety, and reduce carbon emissions. We are excited to invest in Tenderd and contribute to their continued growth.”
Saudi Arabia is a key market for Tenderd, underscoring the region’s strategic importance. 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 Saudi government’s commitment to Vision 2030, highlighted by hosting events like the FIFA World Cup 2034 and Expo 2030, presents immediate growth opportunities. We believe Tenderd’s technology will be crucial in supporting sectors shaping Saudi Arabia’s future.”
Muhammed Zeeshan Hassan, Chief Investment Officer at Wa’ed Ventures, commented, “We are eager to double down on our investment in Tenderd as the company revolutionises data collection and usage in the construction industry. By driving AI adoption, Tenderd is transforming one of the region’s most traditional and challenging industries.”
Tenderd’s telematics platform, powered by AI, provides project owners and contractors with a robust tracking system to enhance overall equipment productivity, efficiency, safety, and emission reductions.
The support from partners across logistics, ports, energy, construction, and technology highlights Tenderd’s technology’s broad applicability and unique position to develop industry-specific AI models, which distinguish it from general models in driving industry transformation.
Chris James, Managing Partner at Quadri Ventures, stated, “We are excited about Tenderd’s integrated AI analytics platform. Its versatility across different assets and brands makes it extremely valuable for asset-heavy industries such as construction, energy, logistics, mining, and marine. We look forward to supporting Arjun and the team in Tenderd’s global expansion and contributing to their ongoing growth and success.”
