Tenderd, a global leader in digital transformation for heavy equipment management and operations, has successfully closed a $30 million Series A funding round. The round was led by A.P. Moller Holding, the $32 billion investment arm of the A.P. Moller Group, which includes A.P. Moller – Maersk.
New investors Quadri Ventures and Saurya Prakash, a product leader at Stripe, joined the round, while existing investors Wa’ed Ventures, Nakhla Ventures, SOMA Capital, and Liquid 2 Ventures reaffirmed their commitment by reinvesting. Notable backers of Tenderd include Peter Thiel, Paul Graham, and Y Combinator.
Tenderd’s innovative platform transforms data from heavy equipment used in construction, manufacturing, and logistics operations into actionable insights.
The company’s telematics platform, powered by AI, provides project owners and contractors with a comprehensive tracking system.
This system enhances overall equipment productivity, increases efficiency, improves safety, and reduces emissions, setting a new benchmark for operational excellence and sustainability in industrial operations.
Investment Leaders’ Insights:
Chetan Mehta, Head of Growth Equity at A.P. Moller Holding, stated, “Tenderd is a leader in telematics solutions, offering real-time visibility and insights for heavy equipment across various industries.
Their solutions enhance operational efficiencies, improve safety, and mitigate carbon emissions. We are excited to invest in Tenderd and look forward to contributing to their continued growth.”
Muhammad Zeeshan Hassan, Chief Investment Officer at Wa’ed Ventures, commented, “We are thrilled to double down on our investment in Tenderd as the company revolutionizes data collection and usage in the construction industry, driving AI adoption in one of the most traditional and challenging sectors.”
Saudi Arabia is a key market for Tenderd, reflecting the strategic importance of the region. Turki Al Nowaiser, Managing Partner of Nakhla Ventures, highlighted, “We see tremendous potential in Tenderd as a pivotal player in Saudi Arabia’s infrastructure development.
The Saudi government’s Vision 2030, including hosting events like the FIFA World Cup 2034 and Expo 2030, presents 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.”
Future Vision and Expansion:
The fresh capital will drive technological innovations and support Tenderd’s global expansion. By integrating AI with physical operations in the construction, mining, and industrial sectors, Tenderd is uniquely positioned to develop industry-specific AI models that outperform general models in driving sector transformation.
Chris James, Managing Partner at Quadri Ventures, expressed, “We are thrilled about Tenderd’s integrated AI analytics platform.
Its versatility and impact across asset-heavy industries such as construction, energy, logistics, mining, and marine are immense. We look forward to supporting Arjun and the team with Tenderd’s global expansion and contributing to their ongoing success.”
Arjun Mohan, CEO of Tenderd, shared, “We are grateful for the support from our partners who believe in Tenderd’s vision to revolutionize global operations.
Our technology, positioned at the intersection of the digital and physical worlds, allows industries to achieve unparalleled levels of efficiency, safety, and sustainability.”
About Tenderd:
Tenderd helps companies enhance their equipment operations using AI. Leveraging advanced AI and IoT technologies, Tenderd’s platform offers a 360-degree view of equipment and vehicle operations, delivering real-time insights that boost efficiency, optimize maintenance, enhance safety, and reduce emissions.
Leading companies use Tenderd to facilitate digital transformation and achieve net-zero goals. For more information, visit Tenderd.
About A.P. Moller Holding:
A.P. Moller Holding is a privately held investment company based in Denmark, managing approximately USD 32 billion.
As the parent company of the A.P. Moller Group, owned by the A.P. Moller Foundation, its purpose is to build and develop businesses with a positive societal impact, driving long-term value and growth. For more information, visit A.P. Moller Holding.
About Wa’ed Ventures:
Wa’ed Ventures, a $500 million institutional venture capital firm wholly owned by Saudi Aramco, promotes economic diversification and new business growth in the Kingdom by investing in high-growth tech startups across multiple sectors.
Established in 2013 and based in Dhahran, Saudi Arabia, Wa’ed Ventures manages a portfolio of 70+ startups, offering end-to-end support from funding to partner resources. For more information, visit Wa’ed Ventures.
About Quadri Ventures:
Quadri Ventures is a venture capital firm focused on being the leading value-add investor to B2B SaaS companies driven by cloud and AI growth.
Its strategic alignment with AWS and in-house technical and commercial cloud expertise provides unrivaled growth opportunities for early-stage businesses. For more information, visit Quadri Ventures.
