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HomeUAE UAE-Based Contech Tenderd Secures $30 Million In Series A Funding

[FUNDING NEWS] UAE-Based Contech Tenderd Secures $30 Million In Series A Funding

Tenderd, a global pioneer in heavy equipment management and operations digital transformation, raised $30 million in Series A funding. A.P. Moller Holding, a $32 billion investment corporation and parent company of A.P. Moller-Maersk, led the financing.

Tenderd, a global pioneer in heavy equipment management and operations digital transformation, raised $30 million in Series A funding. A.P. Moller Holding, a $32 billion investment corporation and parent company of A.P. Moller-Maersk, led the financing.

Quadri Ventures and Stripe product leader Saurya Prakash invested. Wa’ed Ventures, Nakhla Ventures, SOMA Capital, and Liquid 2 Ventures re-invested, confirming their faith in Tenderd’s expansion. Peter Thiel, Paul Graham, and Y Combinator fund Tenderd.

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It’s cutting-edge platform turns heavy equipment data from construction, manufacturing, and logistics into meaningful insights. It’s telematics platform gives project owners and contractors access to an AI-powered tracking solution to track and run equipment more efficiently, safely, and efficiently. This novel approach to operational excellence and decarbonisation positions it as a leader in the continuously changing industrial operations landscape.

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 it 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.”

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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 commitment shown by the Saudi government through Vision 2030, evidenced by hosting events like the FIFA World Cup 2034 and Expo 2030, underscores the 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.”

The funding infusion will fuel technology advances and help it to expand globally to combine AI with physical operations in construction, mining, and industry. Tenderd’s technology’s broad applicability and unique global position in sector-specific data to develop industry-focused AI models set it apart from general models in driving industry transformation. Partners in logistics, ports, energy, construction, and technology support it.

About Tenderd

A tiny, tight-knit team runs Tenderd, a startup solving a big, interesting problem. Orchestrating and automating machines to sustainably build humanity’s future is their goal. They employ machines to build houses, deliver food, and power the internet.

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