CEMEX (NYSE:CX), the Mexican building materials company, has made an investment in GoFor Industries, a Canadian startup that provides on-demand deliveries for the construction industry.
“We seek to improve a critical point in the construction value chain, ensuring the efficient on-site delivery of materials,” CEMEX Ventures CEO Gonzalo Galindo said in a statement.
CEMEX Ventures, the multinational’s investment arm, did not disclose the size of the investment, which it announced on Sept. 12. But the investment comes as GoFor plans to expand to 20 additional U.S. marketplaces.
“They are an ideal partner,” GoFor CEO Brad Rollo said of CEMEX, in a statement. “They bring deep construction industry experience, providing valuable insight and guidance as we scale our operations across North America.”
Launched in 2016, GoFor operates in five Canadian cities, including Toronto and Vancouver, and Charlotte, North Carolina.
GoFor bills its logistics platform as a cost-effective tool for last-minute deliveries of materials to worksites. It also has a contracted fleet for deliveries.
“We have a long, long list of suppliers across North America waiting for us. If I had all the money in the world, I could be in every city in the world, I’d have over 7,000 partners ready, using us,” Rollo told Ottawa Business Journal in 2018.
