Technology

Wa’ed Ventures Invests in Tenderd, a Leader in Decarbonizing Industrial Operations with AI-powered Emissions Management Technology

Published

1 year ago

July 18, 2023

In an unprecedented move accelerating the drive for sustainability, Wa’ed Ventures, the venture capital arm of Aramco, has strategically invested in AI-forward startup Tenderd. Specializing in decarbonizing construction and logistics operations, Tenderd’s innovative platform offers AI-driven insights that optimize asset use and reduce emissions. This critical partnership targets sectors that constitute 40% of global GDP, heralding a seismic shift towards environmentally responsible practices.

SAN FRANCISCO, July 18, 2023 /PRNewswire-PRWeb/ — Wa’ed Ventures, the Kingdom-based venture capital arm of Aramco, announced a strategic investment in Tenderd, a startup specializing in AI-enabled technologies for real-time emissions intelligence. The platform provides customers with AI-generated insights to increase asset utilization and reduce emissions, targeting heavy industries such as construction and logistics.

“Our investment in Tenderd reflects our commitment to addressing sustainability challenges facing the industrial sector and providing solutions to decarbonize their operations,” said Fahad Alidi, Managing Director at Wa’ed Ventures. “Tenderd brings transformational solutions to traditional capital-intensive industries such as energy, construction, and logistics sector by utilizing AI-generated insights to increase asset optimization and reduce emissions.”

Tenderd is backed by top investors, including Y Combinator, Peter Thiel, BECO Capital and Dynamo Ventures. The investment from Wa’ed comes at a time when the world is demanding more sustainable practices from heavy industries. Tenderd is serving industries that constitute 40% of global GDP. These companies spend $2 trillion annually operating capital equipment, but a lack of operational intelligence leads to only 50% utilization, resulting in an excess of 1 billion tons of CO2 and $500 billion in costs each year.

Tenderd’s technology addresses these issues by providing companies with real-time insights to make better operational decisions. Ultimately, this results in cost savings, better resource utilization, and a smaller environmental footprint. Technologies offered by companies like Tenderd are increasingly becoming necessary for companies operating in Saudi Arabia’s new economic landscape, with a paramount focus on efficiency and sustainability.

“With Wa’ed Ventures investment, we will be able to evolve industrial operations and lead the charge towards a greener, more sustainable future” said Tenderd’s CEO, Arjun Mohan. “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.”

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About Tenderd

Tenderd is a technology startup that is empowering sustainable operations with smart coordination. Their platform is powered by proprietary AI models and a combination of IoT sensors, making it the world’s most integrated platform for managing industrial assets. To learn more visit: www.tenderd.com

Media Contact: Ronalyn Bonilla, +971 50 182 2325, ronalyn@tenderd.com

About WAED Ventures

WAED Ventures is a $500 million institutional venture capital firm wholly owned by Saudi Aramco to promote economic diversification and new business growth in the Kingdom by investing in high-growth tech startups across multiple sectors. Established in 2013, Wa’ed Ventures manages a portfolio of 50+ startups, providing end-to-end support to startups from funding to providing access to partner resources. The company is located in the city of Dhahran, Saudi Arabia. For more information, please visit: www.waed.net

Media Contact: Nagham Aleithan, +966 55 503 7134, nagham.aleithan@waed.net

Pull Quote

“With Wa’ed Ventures investment, Tenderd will be able to evolve industrial operations and lead the charge towards a greener, more sustainable future”

Media Contact

Ronalyn Bonilla, Tenderd, 971 501822325, ronalyn@tenderd.com, www.tenderd.com

SOURCE Tenderd

Technology

Max Stock Limited Announces Change in Shares Held by an Interested Party

Published

9 minutes ago

November 24, 2024

CAESAREA, Israel, Nov. 24, 2024 /PRNewswire/ — Max Stock Limited (TASE: MAXO(; )the “Company”, “Max Stock“) today announced that on November 20th, 2024, Phoenix Financial Ltd. and Phoenix Investment House Ltd. (“Phoenix reporting group”), including their respective nostro account, provident funds and provident fund management companies, as well as mutual fund management companies and market maker sub entities, informed the Company that they had sold shares of the Company thereby lowering their joint holdings to 4.8% of the Company’s issued capital (4.15% and 0.65% respectively). As a result, Phoenix reporting group will no longer be an interested party in the Company.

This is an English translation of segments of a Hebrew immediate report that was published on November 24, 2024 (Ref. No: 2024-01-618032) (hereinafter: the “Hebrew Version”). This English version is only for convenience purposes. This is not an official translation and has no binding force. In the event of any discrepancy between the Hebrew Version and this translation, the Hebrew Version shall prevail.

About Max Stock

Max Stock is Israel’s leading extreme value retailer, currently present in 64 locations throughout Israel and 2 locations in Portugal. We offer a broad assortment of quality products for customers’ everyday needs at affordable prices, helping customers “Dream Big, Pay Small”. For more information, please visit https://ir.maxstock.co.il

Company Contacts:

Talia Sessler,
Chief Corporate Development and IR Officer
talia@maxstock.co.il

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SOURCE Max Stock Limited

Technology

Qatar Development Bank announces strategic investment in global Islamic FinTech, Wahed

Published

4 hours ago

November 24, 2024

DOHA, Qatar, Nov. 24, 2024 /PRNewswire/ — Qatar Development Bank (QDB) announces a strategic investment in Wahed, a global Shariah-compliant fintech.

Wahed currently manages over $1 billion in assets and has attracted over 400,000 clients worldwide. The company is built on the principles of democratizing access to financial services and offers clients access to Shariah-compliant investments in its mobile app. Wahed removes the barriers to sophisticated investment management services that have been traditionally reserved for high-net-worth investors.

Khalid Al Jassim, Executive Chairman of Wahed MENA said: ‘We are delighted to welcome our new shareholders, QDB. We believe Qatar is fully aligned with our mission in creating a technology-first Islamic finance leader that unlocks a financial ecosystem free from Riba. We look forward to supporting the Qatar National Vision 2030 of becoming a leading knowledge-based economy.

Ali Rahimtula, Partner at Cue Ball Capital said: “Qatar Development Bank’s strategic investment is a clear signal of the faith the industry has in Wahed and its ability to create the future of Islamic Finance.”

About Wahed

Founded in 2015, Wahed is a financial technology company that is advancing financial inclusion through accessible, affordable, and values-based investing. The company has made significant inroads in the world Shariah compliant investing by creating an easy-to-use digital platform that provides a suite of Shariah compliant investing products including managed portfolios and venture and real estate investments. Wahed caters to over 400,000 customers globally and manages over $ 1 billion in assets.

For more information, visit: www.wahed.com

About Qatar Development Bank

Qatar Development Bank’s mission is to advance the economic and innovation development cycle of Qatar, supporting and contributing to the nation’s economic diversification. As well as a focus on the development of Qatar’s private sector, QDB is a powerful catalyst for socio-economic development in the country, empowering the local economy and bettering living standards.

For more information, visit: https://www.qdb.qa/

SOURCE Wahed

Technology

Wahed appoints Khalid Al Jassim as Executive Chairman of Wahed MENA to help guide the strategic growth of Wahed in the region

Published

4 hours ago

November 24, 2024

DOHA, Qatar, Nov. 24, 2024 /PRNewswire/ — Wahed, a global Shariah-compliant fintech, has appointed Khalid Al Jassim as Chairman of Wahed MENA.

On this appointment, Khalid commented, ”I am excited to guide Wahed’s growth in the region. Wahed’s mission of furthering Islamic Finance is one I resonate with deeply and I look forward to supporting its growth ambitions.”

Khalid has over twenty five years of investment banking and corporate advisory experience gained with some of the most innovative and groundbreaking institutions in the world.

His career spans leading firms including SABIC, Arthur Anderson and Arcapita Bank in Bahrain, where he was instrumental in making it into one of the PE powerhouses in the region. His responsibilities started in the earlier years with establishing the Investment Placement Team and transforming it into one of the most robust teams in the industry. At the time that Khalid left Arcapita to build his personal business, he was an Executive Director. Today he is Chairman of Afkar Vision, a private advisory house specialized in mergers and acquisitions with offices in Manama, Dubai and Riyadh.

As well as being one of the earliest investors in Wahed, he is currently Chairman of the Audit Committee and Board Member at Bahrain Islamic Bank, the 4th oldest Islamic Bank in the World and Board Member at SICO Bank and SICO Capital in Saudi, an $8bn asset manager in the region.

Mohsin Siddiqui, Wahed CEO said, “We are delighted to announce Khalid’s appointment. His unique understanding of the financial landscape in the MENA region is unparalleled and we are excited to bring this expertise in continuing to grow our presence in the region.”

About Wahed

For more information, visit: www.wahed.com

Photo – https://mma.prnewswire.com/media/2566076/Wahed_MENA_Khalid_Al_Jassim.jpg

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