TENDERD, a global leader in digital transformation for heavy equipment management and operations, has closed a $30 million Series A funding round. 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.
TENDERD's cutting-edge platform transforms data from heavy equipment used in construction, manufacturing, and logistics operations into actionable insights.
TENDERD’s 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 increased efficiency, enhanced safety, and lowered emissions.
This innovative approach sets a new standard for operational excellence and decarbonization efforts, positioning TENDERD as a leader in the rapidly evolving landscape of industrial operations.
Arjun Mohan, CEO of TENDERD, shared his vision for the company, stating: “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."
New investors in the round included Quadri Ventures and Saurya Prakash, a product leader at Stripe. Existing investors Wa’ed Ventures, Nakhla Ventures, SOMA Capital, and Liquid 2 Ventures have also re-invested, reinforcing their continued confidence in Tenderd's growth. TENDERD’s existing backers include Peter Thiel, Paul Graham, and Y Combinator.
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."
TENDERD’s UAE offices are located in Masdar City, a sustainable urban community in Abu Dhabi, UAE, known for fostering innovative climate-change solutions.
Tenderd opened its offices in 2020 in Masdar City’s economic zone, home to a growing AI cluster anchored by the Mohamed Bin Zayed University of Artificial Intelligence.
“Masdar City was perfect for our in the Middle East," added Tendered CEO, Arjun Mohan. “Our commitment to sustainability aligns with Masdar City’s and Abu Dhabi’s vision to support climate tech innovators," he said.
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 revolutionize one of the most traditional and challenging industries in the region.”