Tendred operates an AI-powered telematics platform that transforms data from heavy equipment used in construction, manufacturing, and logistics into actionable insights. The platform gives project owners and contractors a tracking system to monitor and run equipment effectively, increasing equipment productivity. Tendred says this leads to increased efficiency, enhanced safety, and lowered emissions. The company is led by CEO Arjun Mohan and is based in Copenhagen, Denmark. It raised $30M in a Series A round and intends to use the funds to further expand its global presence. Investors and supporters named in the article include A.P. Moller Holding, Quadri Ventures, Saurya Prakash, Wa’ed Ventures, Nakhla Ventures, SOMA Capital, Liquid 2 Ventures, and existing backers Peter Thiel, Paul Graham, and Y Combinator. Tenderd is a Dubai-based startup that provides a platform delivering AI-generated insights to increase asset utilization and reduce emissions for heavy industries such as construction and logistics. The solution is powered by proprietary AI models and a combination of IoT sensors. Led by CEO Arjun Mohan, the company offers real-time emissions intelligence and asset-management insights. Tenderd received an investment from Wa’ed Ventures, the venture capital arm of Aramco; the amount was not disclosed. The company intends to use the funds to expand operations and its development efforts. Tenderd is also backed by Y Combinator, Peter Thiel, BECO Capital, and Dynamo Ventures. Tenderd provides a marketplace and software platform for contractors to rent and manage construction equipment across the MENA region. The product includes real-time productivity monitoring, predictive maintenance alerts and an AI-powered tracking system. It also offers emissions tracking to help run equipment more sustainably. Contractors with idle equipment can list assets to maximize fleet utilization and revenues. The company was launched by Arjun Mohan under 12 months before the article and joined Y Combinator shortly afterwards. Tenderd intends to use recent funding to streamline the rental process and expand into neighbouring strategic markets.

Total raised

$36M

Funding rounds

3

Latest round

Series A

Latest activity

Jun 2024