UAE's Tenderd Receives Undisclosed Investment From Aramco's Wa'ed
UAE-based construction startup Tenderd has received an undisclosed funding round from Aramco's Wa’ed Ventures.
The investment will help Tenderd to scale its operations and develop more sustainable technologies for manufacturers.
Chief Executive of Tenderd, Arjun Mohan said, "With Wa’ed Ventures' investment, we will be able to evolve industrial operations and lead the charge towards a greener, more sustainable future. Companies can leverage the power of our technology, to help them take the right steps toward increasing their operational intelligence and reducing their environmental footprint.”
Tenderd is a start-up company that specializes in AI-powered tools for real-time emissions intelligence. Targeting heavy industries like logistics and construction, the platform offers users insights produced by AI to maximize asset utilization and lower emissions.
Managing Director at Wa’ed Ventures, Fahad Alidi said, "Our investment in Tenderd reflects our commitment to addressing sustainability challenges facing the industrial sector and providing solutions to decarbonize their operations. Tenderd brings transformational solutions to traditional capital-intensive industries such as energy, construction, and logistics sector by utilising AI-generated insights to increase asset optimisation and reduce emissions.”
Tenderd's Solution
Wa'ed's investment comes at a time when the global community is calling for heavy sectors to adopt more sustainable practices. Tenderd provides services to sectors that account for 40% of the global GDP. These businesses shell out $2 trillion yearly to operate their capital assets, but due to a lack of operational knowledge, only 50% of that capital is really utilized, generating an excess of 1 billion tons of CO2 and $500 billion in expenses annually. These problems are addressed by Tenderd's technology, which offers businesses real-time operational intelligence. As a result, there are financial savings, improved resource management, and less environmental impact.
Technologies offered by companies like Tenderd are increasingly becoming necessary for companies operating in the Middle East. In 2021, Tenderd became the first startup from the UAE to join the “World Economic Forum” as an Innovation Partner to accelerate its mission to build a sustainable future