Tenderd raises $30mn series A round

Riyadh - Sharikat Mubasher: Tenderd, a startup specializing in AI-enabled technologies for real-time emissions intelligence based in UAE, secured $30 million in a series A funding round led by AP Moller Holding, with participation from Saurya Prakash, a Stripe and Quadri Ventures product leader.

In a statement, the company revealed that existing investors, including Liquid 2 Ventures, Nakhla Ventures, Wa’ed Ventures, and SOMA Capital, participated in the round.

Tenderd will utilize the funds to accelerate its global expansion plans and drive technological innovations while integrating artificial intelligence (AI) with physical operations in the construction, mining, and industrial sectors.

Tenderd provides customers with AI-generated insights to increase asset utilization and reduce emissions. It targets heavy industries such as construction and logistics.

Commenting on the round, CEO Arjun Mohan, said: “Tenderd will continue to innovate and grow, impacting sectors that have remained unchanged for decades but form the pillars of society.”

He affirmed that Tenderd’s technology allows industries to achieve unparalleled efficiency, safety, and sustainability levels.

Meanwhile, Muhammed Zeeshan Hassan, Chief Investment Officer at Wa’ed Ventures, stated that Tenderd is transforming one of the region’s most traditional and challenging industries by driving AI adoption.

Tenderd’s telematics platform provides project owners and contractors with a robust tracking system to enhance overall equipment productivity, efficiency, safety, and emission reductions.

Contribution Time: 11-Jun-2024 09:40 (GMT)
Last Update Time: 11-Jun-2024 09:40 (GMT)