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UAE-based sustainable construction tech startup Tenderd raised USD 30 mn in a series A funding round from both new and existing investors, according to a press release. The round was led by AP Moller Holding, and saw the participation of new investors, including Quadri Ventures and Saurya Prakash (Linkedin), and existing investors, including Aramco’s venture arm, Wa’ed Ventures, Nakhla Ventures, SOMA Capital, and Liquid 2 Ventures.
Where’s the money going? The company plans to use the funds towards expansion plans and developing its tech to better integrate AI into the daily operations of construction, mining, and industrial sectors.
What does Tenderd do exactly? Founded in 2018 by Arjun Mohan (LinkedIn), the company develops tech tailored to heavy industries like construction, energy, and logistics. The firm offers customers AI-generated data analytics for calculating carbon footprint, tracking emissions by equipment type, monitoring fuel costs and usage in real-time, and report generation with actionable insights. The tech also helps construction companies visualize operational trends across project sites and provides in-depth data about transport fleets.
Making early strides in efficiency: Tendred was selected as the World Economic Forum’s Innovation Partner in 2021. The tech first tested Internet of Things devices to help 120 small and medium-sized manufacturers improve income, sustainability, and efficiency in a pilot program launched in Brazil. Following the project’s success, it started expanding to Colombia, South Africa, Kazakhstan, Saudi Arabia, and Turkey, providing guidance and support for project planning and execution across these markets.
