A bold investment

Tenderd Secures $30 Million in Series A Funding to Revolutionize Heavy Equipment Management

Tenderd, a global leader in digital transformation for heavy equipment management and operations, has successfully closed a $30 million Series A funding round.

This round was spearheaded by A.P. Moller Holding, a $32 billion investment firm and parent company of the A.P. Moller Group, which includes A.P. Moller – Maersk.

New investors joining this round include Quadri Ventures and Saurya Prakash, a product leader at Stripe.

Existing investors Wa’ed Ventures, Nakhla Ventures, SOMA Capital, and Liquid 2 Ventures also reinvested, reaffirming their continued confidence in Tenderd’s growth trajectory.

Among Tenderd’s notable backers are Peter Thiel, Paul Graham, and Y Combinator.

Tenderd’s innovative platform converts data from heavy equipment used in construction, manufacturing, and logistics into actionable insights.

This AI-powered telematics platform enables project owners and contractors to enhance overall equipment productivity, resulting in increased efficiency, improved safety, and reduced emissions.

This approach sets a new benchmark for operational excellence and decarbonization efforts, solidifying Tenderd’s position as a leader in industrial operations.

Chetan Mehta, Head of Growth Equity at A.P. Moller Holding, commented: “Tenderd is a frontrunner in telematics solutions, offering real-time visibility and insights for heavy equipment across various industries.

Their solutions boost operational efficiencies, improve safety, and reduce carbon emissions.

We are excited to invest in Tenderd and contribute to their ongoing growth.”

Muhammed Zeeshan Hassan, Chief Investment Officer at Wa’ed Ventures, added: “We are excited to increase our investment in Tenderd as the company transforms data collection and utilization in the construction industry, driving AI adoption to revolutionize one of the most traditional and challenging sectors in the region.”

Saudi Arabia is a key market for Tenderd, emphasizing the strategic importance of the region.

Turki Al Nowaiser, Managing Partner of Nakhla Ventures, stated: “We see tremendous potential in Tenderd as a pivotal player in Saudi Arabia’s infrastructure development.

The Saudi government’s Vision 2030 initiative, along with major events like the FIFA World Cup 2034 and Expo 2030, highlights the significant opportunities for growth.

We believe Tenderd’s technology will be crucial in supporting the sectors that will shape the future of Saudi Arabia.”

The new funding will drive technological innovations and enable Tenderd to expand its global footprint, integrating AI with physical operations in the construction, mining, and industrial sectors.

Support from partners in logistics, ports, energy, construction, and technology demonstrates the broad applicability of Tenderd’s technology and its unique position within industry-specific AI models.

Chris James, Managing Partner at Quadri Ventures, remarked: “We are thrilled with Tenderd’s integrated AI analytics platform.

Its versatility and impact across various assets and brands make it highly valuable in asset-heavy industries such as construction, energy, logistics, mining, and marine.

We look forward to supporting Arjun and the team in their global expansion and contributing to their continued success.”

Arjun Mohan, CEO of Tenderd, shared his vision: “We are grateful for the support from our partners who believe in Tenderd’s vision and our ability to reshape global operations.

Tenderd will continue to innovate and grow, impacting sectors that have remained unchanged for decades but are essential to society.

Positioned at the intersection of the digital and physical worlds, our technology allows industries to achieve unprecedented levels of efficiency, safety, and sustainability.”

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