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Dubai-based Tenderd raises $30m funding co-led by Aramco's VC arm

Dubai-based Tenderd raises $30m funding co-led by Aramco's VC arm
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UAE – Mubasher: Dubai-based Tenderd has secured a $30 million Series A funding round, led by A.P. Moller Holding, along with Quadri Ventures, Saurya Prakash, Aramco's VC arm Wa’ed Ventures, among others.

Tenderd will use capital infusion to drive technological innovations and further expand its global footprint in its mission to integrate AI with physical operations in the construction, mining, and industrial sectors.

Through its telematics platform, Tenderd transforms data from heavy equipment used in construction, manufacturing, and logistics operations into actionable insights, according to a press release.

It enables project owners and contractors to access tracking systems powered by AI, allowing them to increase overall equipment productivity and enhance efficiency.

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."

Muhammed Zeeshan Hassan, Chief Investment Officer at Wa’ed Ventures, commented: "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.”

Arjun Mohan, CEO of Tenderd, noted:  “Tenderd 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 levels of efficiency, safety, and sustainability,” Mohan added.