Saudi Aramco VC Fund Joins Thiel to Back AI-Powered Emissions Monitor

Oil giant set up Wa’ed Ventures to invest in tech startups
The financing marks Tenderd’s second fundraising round

Peter Thiel
Photographer: Eva Marie Uzcategui/Bloomberg

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By Fahad Abuljadayel

July 18, 2023 at 11:32 AM UTC

This article is for subscribers only.

Saudi Aramco’s venture capital arm has invested in Tenderd, a United Arab Emirates-based firm backed by Peter Thiel, which uses AI-generated insights to monitor and help reduce emissions.

Aramco’s $500 million venture fund, Wa’ed Ventures, didn’t disclose how much it invested in the startup.