Tenderd in Dubai Raises $30M Series A

by | Jun 12, 2024 | Startups News | 0 comments

Dubai-based Tenderd has raised $30 million in a Series A round led by Denmark’s A.P. Moller Holding, the parent company of A.P. Moller Group, which owns the world’s largest container shipping company, Maersk, and many other businesses.

Key Investors

Additionally,The Series A round saw participation from several notable investors:

  • A.P. Moller Holding: Leading the round, providing significant support from the parent company of Maersk.
  • Quadri Ventures: A London-based B2B SaaS venture capital firm.
  • Saurya Prakash: A product leader at Stripe. Furthermore, Existing investors such as Wa’ed Ventures, Nakhla Ventures, Soma Capital, and Liquid 2 Ventures also joined the round.

Background and Evolution of Tenderd

Founded in 2018 by Arjun Mohan, Tenderd originally started as a marketplace for renting heavy equipment, including dozers, excavators, cranes, rollers, and trucks. However,It has since pivoted into a SaaS platform, offering comprehensive management solutions for heavy equipment and machinery.

Platform Capabilities

Tenderd’s platform provides several advanced features:

  • Real-Time Tracking: Continuous monitoring of equipment locations.
  • Predictive Maintenance: Alerts to prevent breakdowns.
  • Data Analytics: Unified data collection for improved operational efficiency.
  • Sustainability: Tracking fuel usage to reduce costs and CO2 emissions.

A statement from the startup highlights that Tenderd’s platform transforms data from heavy equipment into actionable insights, enhancing productivity, safety, and efficiency.

Operational Footprint and Future Plans

Moreover, Tenderd operates in the UAE and Saudi Arabia, serving over 300 companies globally. The new funding will enable Tenderd to expand its global footprint and continue innovating in the construction, mining, and industrial sectors.

Strategic Vision of Tenderd

Arjun Mohan, founder and CEO of Tenderd, emphasized the company’s commitment to transforming sectors that have remained unchanged for decades by integrating digital and physical operations. Meanwhile, Chetan Mehta, Head of Growth Equity at A.P. Moller Holding, expressed enthusiasm for Tenderd’s potential to enhance operational efficiencies and reduce carbon emissions, further highlighting the strategic fit of Tenderd’s solutions across various industries.

in conclusion ,With its latest funding, Tenderd is poised to revolutionize the heavy equipment management industry, leveraging AI to drive efficiency, safety, and sustainability.

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