Madrid, SPAIN. SEPTEMBER 12, 2019 – CEMEX Ventures, CEMEX’s open innovation and Corporate Venture Capital unit, announced today its investment in GoFor Industries, a last-mile logistics marketplace for on-demand delivery of building materials and equipment for the home improvement and construction industries.
GoFor Industries, a startup with operations in Canada and the United States, matches the delivery requirements of distributors, retailers, and contractors with the appropriate lightweight to heavy-duty vehicles of its driver community inventory. They provide reliable, affordable, and timely delivery of goods to their customer and job sites. GoFor’s flexible, on-demand services allow businesses to supplement their busy fleets or choose GoFor as their exclusive out-sourced logistics partner for local and out-of-town deliveries.
Founded in 2016 by a team with extensive experience in the construction industry, GoFor is focused on the supplier and retailer supply chain and is exploring phenomenal growth across major urban areas in Canada and the United States. Looking ahead to 2020, GoFor is poised for expansion to 20 major market areas in the United States, providing an indispensable tool for suppliers, distributors, and builders—turning the traditional cost center of delivery into a modern, customer-centric profit center.
CEMEX Ventures’ participation goes beyond its financial investment, helping GoFor to continuously strengthen its presence in the geographies in which it operates and to expand into new markets. Brad Rollo CEO of GoFor stated, “We are excited to work with CEMEX Ventures as they are an ideal partner; they bring deep construction industry experience, providing valuable insight and guidance as we scale our operations across North America.”
Gonzalo Galindo, CEO of CEMEX Ventures said, “With this investment, we seek to improve a critical point in the construction value chain, ensuring the efficient on-site delivery of materials. Our open collaboration platform enables us to bring new innovative solutions and business models to CEMEX customers. We work to identify our industry’s challenges and position our company at the forefront of the construction revolution.”
For more information on GoFor, please visit gofordelivers.com.
MONTERREY, JULY 18, 2019 – CEMEX Ventures celebrated its #CXVPitchday, an event at which the 10 winners of the Construction Startup Competition 2019 presented their solutions to a jury of experts in construction, innovation, and entrepreneurship. This global challenge, which doubled its participation compared to the 2018 competition, seeks new business models that work in the six priority opportunity areas defined by CEMEX Ventures.
Launched in February, the competition challenged the most promising startups to become leaders of the construction revolution. Ten solutions focused on the Contech space are one step closer to CEMEX Ventures’ offering and its challenge launched this year: to leave its mark in the industry. After an exhaustive analysis, those that stood out for their innovative and technological merit were named winners for providing solutions in one of the six areas of focus of CEMEX Ventures or for improving the value offer of CEMEX in the countries in which it already operates or can open new markets.
The entrepreneurs who were invited for this three-day event in Monterrey, Mexico, came from Argentina, Australia, Austria, Canada, France, Norway, the United States and the United Kingdom. The winners constituted the central axis of the event where, in addition to presenting their project, they engaged with multidisciplinary teams from CEMEX to explore possible opportunities for collaboration. They also conducted workshops with Google to optimize their search for customers and to understand how digital media helps generate value for attracting customers.
Winning startups offered solutions in:
The event was chaired by an integrated, multidisciplinary jury, with high functional and experience levels in the industry. It managed to combine leaders from the construction industry, technology, innovation, and entrepreneurship on an international scale, including companies such as Google, 500Startups, TEKFEN Ventures, WND Ventures, and Dalus Capital.
CEMEX Ventures reaffirms its position in the construction, entrepreneurship, investment, and new technologies fields with initiatives such as its Construction Startup Competition, different workshops with construction actors, and collaboration agreements with experts and leading companies.
It’s crunch time for new challenge Construction Startup 2019. The moment of truth has finally arrived with #CXVPitchday, where the ten finalists, striving to make their mark in the construction industry, will pitch their projects to an expert panel of judges.
Startups from more than 71 countries around the world took part in the competition, with the US, Mexico, Colombia, the UK and Egypt standing out for their exceptionally high levels of participation. A total of ten winning startups were selected and are active in:
At #CXVPitchday, which takes place July 18 in Monterrey, Mexico, the ten winning startups will take to the stage and introduce their solutions to some of the construction industry’s biggest challenges. They will do so in front of a panel of judges made up of experts and leaders in construction, technology and investing, among other sectors.
Discover which startups are the frontrunners in the race to form part of the CEMEX Ventures investment portfolio, meet the winners and follow the competition as it develops by subscribing to our newsletter.
APPLY. GROW. MAKE YOUR MARK
MADRID, SPAIN. MAY 16, 2019 – CEMEX Ventures, the open innovation and Corporate Venture Capital unit of CEMEX, announced today its investment in Energy Vault, an Idealab company that has developed a transformative technology to store energy. The new investment is further reinforced by plans to support rapid market adoption and deployment of Energy Vault’s technology through CEMEX’s strategic network.
This investment follows a previously announced technology partnership with CEMEX to provide concrete and other composite material technology for Energy Vault’s storage towers.
Energy Vault’s breakthrough technology was inspired by pumped hydro plants that rely on the power of gravity and the movement of water to store and discharge electricity. This solution is based on the same well-understood principles of physics and mechanical engineering used in those plants. Energy Vault’s system replaces water with custom made concrete bricks through an innovative use of low-cost materials. The massive bricks are combined with its patented system design and proprietary algorithm-based software to operate a newly designed crane. The crane orchestrates the energy storage tower and electricity charge/discharge while accounting for a variety of factors, including energy supply and demand volatility, weather elements and other variables such as inertia and system deflection.
As a result, Energy Vault can deliver all the benefits of a gravity-based pumped hydro system with lower price, higher round trip efficiency, without the requirement for specific land topographies and negative environmental or wildlife impacts. Importantly, with Energy Vault’s longer duration and more cost-effective energy storage, electricity from renewables can be delivered for less than the price of fossil fuels 24 hours a day for the first time. In April 2019, Energy Vault won the World Changing Idea Award from Fast Company in the Energy category for the unprecedented economic and environmental benefits its technology provides.
“Energy storage that enables power to be delivered for less than the cost of fossil fuels is critical as the world shifts away from its reliance on carbon-based fuels to renewable energy,” said Gonzalo Galindo, CEO of CEMEX Ventures. “Energy Vault’s storage technology is transformational, and we’re extremely pleased to broaden our relationship and support the company’s efforts. The investment is also important because it complements the CEMEX R&D partnership and will accelerate our corporate objectives to achieve a carbon-free industrial footprint.”
“CEMEX is a key strategic partner that adds critical innovations in material science that enhance both the economics and longevity of our energy storage system, and we’re thrilled to expand our partnership to welcome CEMEX Ventures as an investor,” said Robert Piconi, chief executive officer and co-founder, Energy Vault. “The combination of CEMEX’s smart concrete solutions, significant global infrastructure and now its strategic investment will accelerate our ability to enable renewable energy to replace fossil fuels 24 hours a day.”
For more information on Energy Vault, please visit energyvault.ch
We appreciate the participation of all entrepreneurs who, beyond wanting to foster the construction revolution, have trusted in our offer to grow together.
In our third edition we have received applications from 71 countries, the countries with the most active participation were United States, Mexico, Colombia, Spain, United Kingdom Indonesia, Egypt, Argentina and Brazil. In addition, it is necessary to highlight that in 2019 the number of startups doubled compared to 2018 edition.
Numerous participating startups have a close relationship with our focus areas, the most common being:
It is necessary to point out that the use of innovative and fresh technologies was present in the applications, among which the striking ones were:
We are currently evaluating all participant startups based on the established requirements, we want to explore the scope and relationship they have with our focus areas. Next June 6th we will announce the winners who will have the opportunity to enjoy:
We invite you to stay tuned to our social media platforms on June 6th, as we will announce the winners that will be invited to pitch their project at Pitchday 2019 to be held on Monterrey (Mexico) on July 18th.
If you want to be the first one to know, subscribe to our newsletter.
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MADRID, SPAIN. APRIL 11, 2019 – CEMEX Ventures announced today its investment in LINKX, a company that offers specialized software to optimize goods delivery. The company’s software solution allows control of deliveries and vehicles in real time, allowing for data-based decision-making and facilitating communication and information among all involved parties: shipper, carrier, and receiver. Within the increasingly busy technological world of logistics, LINKX stands out for its user-friendly interface, robustness and convenient integration, and customer-centric focus.
With LINKX, shippers or freight generators plan deliveries in a simple way, allowing them to assign operations to their own carriers or third parties. In addition, to enable visibility of shipment status and vehicles’ location in real time, LINKX digitizes delivery vouchers, provides administrative advantages, and fosters fluidity in the billing process. Another distinguishing function of this delivery optimization software is its analytical reports that offer data-based conclusions about its logistic operation.
Another segment that benefits from this platform are drivers. LINKX allows drivers to schedule their performed services and functions as a co-pilot that optimizes their routes. This tool is able to collect signatures and offer graphic evidence for proof of digital delivery. Through LINKX, customers receive merchandise very easily, are informed at all times of the delivery process, and receive the same digital receipt. The platform allows them to assess the service, improve trust, and provide feedback to shippers and carriers.
CEMEX Ventures’ portfolio grows. “This investment is a clear example of our offer. LINKX came to us at a very early stage, and together, we worked on continuous improvements by reinforcing their minimum viable product and offering continuous feedback on our knowledge of industry and technology. After numerous optimizations, we have piloted this solution with several CEMEX clients to achieve a very robust solution for the supply chain management challenge,” said Gonzalo Galindo, CEO of CEMEX Ventures.
LINKX, which currently operates in the Mexican and Spanish markets, explores new sectors beyond construction. It is expected that its results’ efficiency, confidence, and visibility position it close to generating important sales, transforming it into a leading software solution specializing in delivery optimization.
Launched in 2017, CEMEX Ventures focuses on helping to solve the main challenges and areas of opportunity for the construction ecosystem through sustainable solutions. CEMEX Ventures has created an open and collaborative platform to lead the construction industry revolution by engaging startups, entrepreneurs, universities, and other relevant stakeholders to address the industry’s toughest challenges and shape tomorrow’s value ecosystem. For more information on CEMEX Ventures, please visit: www.cemexventures.com.
On February 19th we launched the third edition of Construction Startup Competition, a challenge aimed at entrepreneurs and startups seeking to innovate in the construction sector and lead the transformation of our industry. Apply before April 21st!
For the second consecutive year, the number of entrepreneurs exceeds the previous year, participation has grown by 101,2% and the countries with the largest number of applications are Mexico, United States, Colombia, Spain and United Kingdom. When evaluating the projects received in the last weeks we identified numerous solutions that have a close relationship with our focus areas, the most common are:
By evaluating the participant startups, we explore how the most fresh and innovative technologies are applied to drive the revolution in the construction industry. The technologies most used by the participants are:
With results as positive as this, we enhance our efforts to drive the revolution of our industry. We understand that leading this revolution is much more than investing and for that reason, at CEMEX Ventures we work to build a journey towards the success of the best solutions. We provide startups with access to marketing and geographic expansion, as well as expert advice and access to influential players in this industry, as well as the benefits of CEMEX unrivaled global and local network.
The winners of Construction Startup Competition 2019 will have the opportunity to access:
Do you want to make your mark in the construction industry? You are in time to apply for Construction Startup Competition 2019. More information here: https://www.cemexventures.com/construction-startup-competition/
APPLY. GROW. MAKE YOUR MARK
On the 19th of February we launched the Construction Startup Competition 2019, the biggest global challenge for construction entrepreneurs. We are looking for startups which offer solutions that effectively tackle the challenges faced by the construction industry; ambitious companies poised to innovate this industry and spearhead its transformation.
The main criteria used to select the winners of the Construction Startup Competition 2019 are:
In addition to the technical aspects and the startup’s vision, the following will also be taken into consideration:
You can participate in the Construction Startup Competition 2019 until the 21st of April. Complete the registration form on our web page and get ready to make your mark on the construction industry.
The participants who best meet these criteria will be declared the winners of the Construction Startup Competition and they will be able to take advantage of the offer which has been specifically designed for this challenge:
The Construction Startup Competition has become somewhat of a point of reference for innovation in the construction industry, bringing together hundreds of startups which offer solutions which help to tackle the main challenges faced by this industry.
SAALG Geomechanics, an engineering company and software provider specialized in real-time data analysis, strengthens its position as a bridge between geomechanics and the construction industry.
Its scaling leads to optimizations and improvements in the platform, SAALG Geomechanics declares that “our solution has introduced new features and improvements, achieving a more robust platform. Regarding the business model, we have modified the approach to the client with a freemium format (in some cases) to achieve greater traction.”
SAALG, as part CEMEX Ventures’ investment portfolio, is expanding in Latin America, achieving success cases in Guatemala and Colombia. The pilots have strengthened with customers, but have also allowed numerous open doors to continue adding functionality to their software and position themselves as leaders in analysis and innovation within the construction industry.
These pilots in Latin America, supported by CEMEX Ventures with its network of clients and key industry professionals, have allowed them to analyze and thoroughly save money in the excavation process on construction sites.
At the end of 2018, SAALG participated and won the Deutsche Bahn competition, gaining access to the development of a project with the German company. Its presence in Europe, already existing with the previous works carried out in Spain, is reinforced with this new project, and predicts a series of new works for this startup specialized in geotechnical and machine learning.
Following their German victory, SAALG has collaborated on a new project that has allowed them to apply their technology in the control of excavations and theoretical quantification of potential savings of the construction procedure. From this analysis, the possibility of removing a whole line of provisional struts from the excavation was characterized.
Finally, it is important to highlight SAALG’s continuity and growth, as well as CEMEX Ventures’ commitment with the startup. One year after the investment announcement, CEMEX Ventures acquires another seat as member of the startup board of directors.
CEMEX Ventures assumes no obligation to update or correct the information contained in this press release. CEMEX Ventures is not responsible for the content of any third-party website or website referenced or accessible through this release.
MADRID, SPAIN. DECEMBER 12, 2018 – CEMEX Ventures, CEMEX’s open innovation and venture capital unit, announced today its investment in StructionSite, a US-based startup that creates digital worksite models through 360-degree cameras. This solution saves about 60% of the time required to calculate progress at a worksite, a process comprising about 1.74% of the total cost of a construction project.
To create its digital models, StructionSite uses 360-degree cameras that provide data to its software, which digitalizes and documents worksite progress. Through the user’s position, ‘Computer Vision,’ and ‘Machine Learning’ technology, StructionSite’s software processes, analyzes, and creates images of the worksite to identify key elements and evaluate advancements.
This new investment streamlines a project’s construction phase by reducing the time to calculate progress and obtaining the contextualized information to enable strategic decision-making and improved coordination between the actors involved. This solution offers deep differential value by providing support on a web-based platform and mobile application, combined with ease of use and integration with other tools to streamline the pace of information.
Currently focused on the US market, StructionSite participated in the ‘500 Startups’ acceleration program in which it developed a successful business model that enabled it to close sales with the US largest constructors in less than its two-year life. In this way, StructionSite became a leading solution to transform the construction industry and started a round of investment led by CEMEX Ventures.
In addition to funding, CEMEX Ventures expects to increase StructionSite’s presence in the US and help it to explore new international markets. This investment gives StructionSite access to CEMEX’s strategic network and the support of CEMEX’s global research and development, marketing and communication, and operating facilities across more than 50 countries.
Launched in 2017, CEMEX Ventures focuses on helping to overcome the main challenges and capitalizing on the opportunity areas in the construction ecosystem through sustainable solutions. CEMEX Ventures has developed an open collaborative platform to lead the revolution of the construction industry, engaging startups, entrepreneurs, universities, and other stakeholders to tackle the challenges in the construction environment and shape the industry’s future. For more information on CEMEX Ventures, please visit: www.cemexventures.com.
CEMEX Ventures assumes no obligation to update or correct the information contained in this press release. CEMEX Ventures is not responsible for the content of any third-party website or webpage referenced to or accessible through this press release.