Tenderd, a UAE-based company revolutionizing heavy equipment management, has successfully raised $30 million in its Series A funding round. The investment was led by A.P. Moller Holding, known for its $32 billion investment portfolio, which includes the renowned A.P. Moller – Maersk. New backers, such as Quadri Ventures and Saurya Prakash, along with existing investors Wa’ed Ventures, Nakhla Ventures, SOMA Capital, and Liquid 2 Ventures, have also contributed to this round.
Founded in 2018 by Arjun Mohan, Tenderd uses advanced technology to turn data from heavy machinery into valuable insights.
This helps industries like construction and logistics work better, stay safer, and cut emissions. The new funding will help Tenderd grow its tech and expand worldwide.
Chetan Mehta from A.P. Moller Holding commented, “Tenderd is a leader in telematics solutions, offering real-time visibility and actionable insights for heavy equipment. Their platform enhances operational efficiency, safety, and sustainability. We are excited to invest in Tenderd and support their continued growth.”
Muhammed Zeeshan Hassan of Wa’ed Ventures added, “We’re thrilled to continue supporting Tenderd as they revolutionize data usage in the construction industry. Their approach is transforming one of the region’s most traditional sectors through innovative technology.”
Saudi Arabia is a key market for Tenderd, and Turki Al Nowaiser from Nakhla Ventures highlighted the company’s potential in the region. “Tenderd is well-positioned to support Saudi Arabia’s infrastructure development, particularly with Vision 2030 initiatives. Their technology will play a significant role in shaping the future of Saudi Arabia’s sectors.”
The funding will allow Tenderd to enhance its technology and expand globally, particularly in construction, mining, and industrial sectors. The company’s unique position in integrating AI with physical operations sets it apart in the industry.
Chris James of Quadri Ventures praised Tenderd’s platform, stating, “Tenderd’s AI analytics platform is versatile and impactful across various asset-heavy industries. We are eager to support their global expansion and contribute to their success.”
Arjun Mohan, CEO of Tenderd, expressed his gratitude and vision: “We’re excited about this new chapter and thankful for our partners’ belief in our mission. Tenderd is committed to driving innovation in industries that are crucial to society, offering unprecedented levels of efficiency, safety, and sustainability.”
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