Tenderd has successfully concluded a $30 million Series A funding round. Tenderd is a global leader in digital transformation for heavy equipment management and operations. Leading the round was the $32 billion investment firm A.P. Moller Holding, which is the parent company of the A.P. Moller Group, which comprises A.P. Moller-Maersk.
Two new investors in the round were Stripe product leader Saurya Prakash and Quadri Ventures. Wa’ed Ventures, Nakhla Ventures, SOMA Capital, and Liquid 2 Ventures, among other current investors, have also made additional investments, demonstrating their ongoing faith in Tenderd’s expansion. Paul Graham, Y Combinator, and Peter Thiel are among Tenderd’s current backers.
The state-of-the-art platform from Tenderd turns data from heavy machinery used in manufacturing, construction, and logistics operations into insights that can be put to use. Through the tracking system powered by AI that Tenderd’s telematics platform offers, project owners and contractors can increase overall equipment productivity by running their equipment more efficiently, improving safety, and reducing emissions. With this cutting-edge strategy, Tenderd becomes a leader in the quickly changing field of industrial operations and sets a new benchmark for operational excellence and decarbonization initiatives.
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.”
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.”
The funding infusion will support technological advancements and allow Tenderd to further broaden its global reach in pursuit of its goal of fusing artificial intelligence (AI) with real-world operations in the mining, construction, and industrial sectors. The support of partners in the fields of technology, energy, ports, logistics, and building highlights Tenderd’s technology’s wide applicability and its distinct global position within sector-specific data to develop industry-focused AI models, differentiating Tenderd from generic models in promoting industry transformation.
