Saudi Aramco VC Fund invests in UAE-based firm Tenderd

Wa’ed Ventures, Saudi Aramco’s venture capital arm, has invested in Tenderd, a United Arab Emirates-based startup backed by US entrepreneur Peter Thiel, which uses AI-generated insights to monitor and help reduce emissions. The amount of the investment was not disclosed. Wa’ed targets technologies that can bring new business to Saudi Arabia, which means Tenderd’s technology could be end up being used by Aramco as it looks to reduce its environmental impact and hit a target of net zero emissions from its operations by 2050.