Tenderd, a prominent Dubai-based heavy equipment management platform, has successfully secured $30 million in a Series A funding round. This round was led by Denmark’s A.P. Moller Holding, the parent company of the A.P. Moller Group, which owns Maersk, the world’s largest container shipping company, along with numerous other businesses.
New investors such as London-based B2B SaaS VC Quadri Ventures and Saurya Prakash, a product leader at Stripe, joined the round. Existing investors, including Wa’ed Ventures, Nakhla Ventures, Soma Capital, and Liquid 2 Ventures, also participated in the deal.
Tenderd previously raised $5.8 million in 2019, marking the largest seed round in the region at the time, from notable investors such as Y Combinator, Beco Capital, Paul Graham, and Peter Thiel.
Founded in 2018 by Arjun Mohan, Tenderd initially operated as a marketplace for the rental of heavy equipment such as dozers, excavators, cranes, rollers, and trucks. It later evolved into a SaaS platform, providing companies with end-to-end management solutions for their heavy equipment and machinery. The platform helps companies collect and unify data on machines to automate operations, reduce carbon emissions, and cut costs.
Tenderd’s solutions enable businesses to continuously monitor equipment location, access detailed vehicle statistics and historical data, prevent breakdowns through predictive maintenance alerts, and reduce fuel costs and CO2 emissions by tracking fuel usage.
A statement from the startup highlighted that its platform “transforms data from heavy equipment used in construction, manufacturing, and logistics operations into actionable insights. Tenderd’s telematics platform provides project owners and contractors with a tracking system powered by AI, enabling them to increase overall equipment productivity by tracking and running equipment more effectively, resulting in increased efficiency, enhanced safety, and lowered emissions.”
Operating in the UAE and Saudi Arabia, Tenderd collaborates with over 300 companies worldwide.
Arjun Mohan, Founder and CEO of Tenderd, commented, “We 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.”
Chetan Mehta, Head of Growth Equity at A.P. Moller Holding, stated, “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.”
The startup plans to utilise the latest funding to expand its global footprint and advance its mission of integrating AI with physical operations in the construction, mining, and industrial sectors.
“The backing from partners across logistics, ports, energy, construction, and technology underscores the broad applicability of Tenderd’s technology and its unique global position within sector-specific data to develop industry-focused AI models, setting Tenderd apart from general models in driving industry transformation,” the company stated.