6 years ago

Tenderd Secures $5.8 Million Seed Funding, Largest in MENA

  • Tenderd, a Dubai-based heavy equipment rental marketplace for the construction industry, has raised $5.8 million in seed funding, the largest ever seed funding round in the MENA region

  • The round was led by Y Combinator and BECO Capital, with participation from prominent investors including Paul Graham, Peter Thiel, Paul Buchheit, Justin Mateen, Matt Mickiewicz, VentureSouq, SOMA, Dynamo, and Global Founders Capital

  • Tenderd aims to address the construction industry's lag in technology adoption by providing a platform for equipment owners to rent out their equipment and for contractors to access a wide range of equipment

  • The company's goal is to combine the efficiencies of a marketplace with the latest technologies to help construction businesses increase productivity and reduce capital investments.

      • ProblemTechnology Infrastructure

      "The construction industry has always lagged in adopting technology, making it difficult for contractors to find and rent equipment, leading to inefficiencies and increased costs."

      Solution

      "Tenderd is a marketplace that connects equipment owners with contractors, allowing them to rent equipment easily and efficiently. This reduces idle time for equipment owners, increases fleet utilization, and generates consistent revenue. It also provides contractors with access to a wide range of equipment, helping them to complete projects faster and more cost-effectively."

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