UAE-based construction tech Tenderd has closed a $30 million Series A funding round, led by A.P. Moller Holding, along with new investors, including Quadri Ventures and Saurya Prakash, and existing investors, including Wa’ed Ventures, Nakhla Ventures, SOMA Capital, and Liquid 2 Ventures also re-invested, reinforcing their continued confidence in Tenderd’s growth. Tenderd’s existing backers include Peter Thiel, Paul Graham, and Y Combinator.
Founded in 2018 by Arjun Mohan, Tenderd provides customers with AI-generated insights to increase asset utilisation and reduce emissions, targeting heavy industries such as construction and logistics. It’s cutting-edge platform transforms data from heavy equipment used in construction, manufacturing, and logistics operations into actionable insights.
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.”
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.
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.”
Saudi Arabia is one of the major markets that Tenderd operates in, highlighting the strategic importance of the region. 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 capital infusion will fuel technological innovations and enable Tenderd to further expand its global footprint in its mission to integrate AI with physical operations in the construction, mining, and industrial sectors.
The backing from partners across logistics, ports, energy, construction, and technology underscores the broad applicability of Tenderd’s technology and its unique global position within sector-specific data to develop industry-focused AI models, setting Tenderd apart from general models in driving industry transformation.
Chris James, Managing Partner at Quadri Ventures, said: “We are thrilled about Tenderd’s integrated AI analytics platform. Its versatility and impact for different assets and brands makes 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 helping to contribute to their ongoing growth and success.”
According to Arjun Mohan, CEO of Tenderd, the company 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 efficiency, safety, and sustainability levels.”
