Tenderd has successfully closed a $30 million Series A funding round. The round was spearheaded 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 this round include Quadri Ventures and Saurya Prakash, a product leader at Stripe. Existing investors such as Wa’ed Ventures, Nakhla Ventures, SOMA Capital, and Liquid 2 Ventures have also re-invested, demonstrating their continued confidence in Tenderd’s growth trajectory. Tenderd’s impressive roster of existing backers includes notable figures like Peter Thiel, Paul Graham, and Y Combinator.
The self-styled leader in digital transformation for heavy equipment management and operations, state-of-the-art platform leverages data from heavy equipment used in construction, manufacturing, and logistics operations, transforming it into actionable insights. The platform’s telematics capabilities provide project owners and contractors with an AI-powered tracking system, significantly boosting overall equipment productivity by enhancing efficiency, improving safety, and reducing emissions. This innovative approach not only sets a new benchmark for operational excellence but also advances decarbonization efforts, cementing Tenderd’s position as a leader in the rapidly evolving landscape of industrial operations.
Chetan Mehta, Head of Growth Equity at A.P. Moller Holding, remarked: “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.”
Muhammed Zeeshan Hassan, Chief Investment Officer at Wa’ed Ventures, added: “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.”
Saudi Arabia represents a major market for Tenderd, underscoring the strategic importance of the region. Turki Al Nowaiser, Managing Partner of Nakhla Ventures, highlighted: “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.”
The substantial capital infusion will drive further technological innovations and enable Tenderd to expand its global footprint. Tenderd’s mission to integrate AI with physical operations across construction, mining, and industrial sectors will be significantly bolstered by this investment. The support from partners across logistics, ports, energy, construction, and technology sectors underscores the wide applicability and unique position of Tenderd’s technology in developing industry-focused AI models, setting it apart from general models and driving industry transformation.
Chris James, Managing Partner at Quadri Ventures, expressed: “We are thrilled about Tenderd’s integrated AI analytics platform. Its versatility and impact on different assets and brands make 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 contributing to their ongoing growth and success.”
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.”
This significant funding round marks a milestone in Tenderd’s journey, positioning it as a trailblazer in the digital transformation of heavy equipment management and operations. As Tenderd continues to innovate and expand, the company is set to redefine operational standards and drive sustainable growth across multiple sectors worldwide.
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