Tenderd Raises USD30 Million in Series A Funding Led by A.P. Moller

Tenderd Raises USD30 Million in Series A Funding Led by A.P. Moller

– Tenderd, a digital transformation platform for heavy equipment management, secures $30 million in Series A funding led by A.P. Moller Holding, with participation from new and existing investors.

– The funding underscores confidence in Tenderd’s platform, which leverages AI-driven telematics to enhance equipment productivity, safety, and emission control in construction, manufacturing, and logistics sectors.

– Positioned at the forefront of industry transformation, Tenderd plans to utilize the capital infusion to fuel technological innovations, expand its global footprint, and drive sustainability efforts across key sectors.

Tenderd, a digital-enabled platform for heavy equipment management and operations globally, has concluded a Series A funding round securing $30 million.

Spearheaded by A.P. Moller Holding, a $32 billion investment firm and parent entity of A.P. Moller Group, encompassing A.P. Moller – Maersk, the round saw participation from new investors such as Quadri Ventures and Saurya Prakash, a product leader at Stripe.

Notably, existing backers including Wa’ed Ventures, Nakhla Ventures, SOMA Capital, and Liquid 2 Ventures have also reinvested, underscoring their unwavering confidence in Tenderd’s trajectory. Tenderd’s platform converts data from heavy equipment utilized in construction, manufacturing, and logistics into actionable insights.

Leveraging AI-driven telematics, the platform furnishes project owners and contractors with real-time tracking capabilities, thus enhancing equipment productivity, safety, and emission control.

This pioneering approach sets a benchmark for operational excellence and decarbonization, establishing Tenderd as a frontrunner in industrial operations’ dynamic landscape.

Chetan Mehta, Head of Growth Equity at A.P. Moller Holding, expressed enthusiasm, citing Tenderd’s leadership in telematics solutions and its contribution to operational efficiency and sustainability. Muhammed Zeeshan Hassan, Chief Investment Officer at Wa’ed Ventures, echoed this sentiment, emphasizing Tenderd’s transformative role in digitizing the construction sector.

Tenderd‘s strategic significance in Saudi Arabia, a key market, was underscored by Turki Al Nowaiser, Managing Partner of Nakhla Ventures, recognizing its alignment with the nation’s Vision 2030 and imminent growth opportunities.

The fresh capital infusion will underpin technological advancements, bolster global expansion, and fortify Tenderd’s mission of amalgamating AI with physical operations in construction, mining, and industrial domains. Arjun Mohan, CEO of Tenderd, expressed gratitude for partners’ belief in Tenderd’s vision and its capacity to revolutionize global operations.

He reaffirmed Tenderd’s commitment to innovation and growth, envisioning an impact on sectors fundamental to societal infrastructure through unprecedented levels of efficiency, safety, and sustainability at the nexus of digital and physical realms.

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