CEMEX Ventures and Taronga Ventures invest in startup looking to ease global logistics challenges - CEMEX Ventures and Taronga Ventures invest in startup looking to ease global logistics challenges
October 21, 2021
- Startup Voyage Control coordinates the materials supply chain through a digital platform that provide a single, reliable information source.
- The UK-based startup is developing a solid supply chain ecosystem focusing on product integrations with an app marketplace.
- CEMEX Ventures and Asian-focused investment fund Taronga Ventures jointly led an investment round in Voyage Control.
CEMEX, S.A.B. de C.V. (“CEMEX”), its subsidiary CEMEX Ventures, and Taronga Ventures announced today their investment in Voyage Control, a UK-based startup that offers a digital platform to facilitate construction logistics and on-site coordination.
Supply chain disruptions are forecasted to have a significant impact on profitability over the next decade. Voyage Control’s end-to-end solution can reduce delays, waste, and cost overruns caused by inefficiencies in the construction materials delivery process through optimized scheduling of deliveries and an overview of all transactions in real-time.
The platform also supports industry-wide CO2 reduction efforts by measuring the logistics-induced carbon emissions, from the materials’ origins to its final transportation. This valuable data will allow for more environmentally conscious decision making.
Voyage Control is in use in over 200 customer sites, coordinating over 100,000 players and scheduling more than 6 million deliveries. Voyage Control's customer base includes industry leaders and general contracting firms in North America, Europe, the Middle East, and Asia Pacific. Large multinationals have become the startup's core customers thanks to the easy-to-scale 'land-and-expand' approach since its platform was launched in 2013.
“The investment from CEMEX Ventures aims to integrate Voyage Control with CEMEX’s digital assets, allowing us to provide a better and more complete service to our clients. We can now gather more insights, continue promoting operational efficiency, sustainable reporting and enhance our health & safety criteria to reduce risks,” said Gonzalo Galindo, Head of CEMEX Ventures.
CEMEX is a pioneer in the digitalization of the building materials industry, having launched its end-to-and digital platform, CEMEX Go, in 2017.
“The built environment contributes 39% of all global emissions, and developers are looking for digital solutions to enhance the transparency of the supply chain, especially concerning the embodied carbon within a building or building operations. Voyage Control provides this transparency across the value chain and enables data-driven decision-making to improve the sustainability of the built environment,” said Avi Naidu, Managing Director at Taronga Ventures.
While founded in the UK, Voyage Control has operations in the US, Australia, Canada, and Singapore. The investment by CEMEX and Taronga Ventures will help further strengthen Voyage Control’s global network, expand operations in Asia, and establish its presence in the Middle East and Latin America, where there´s a strong demand for their products and services.
Voyage Control was included in the named Top 50 Contech Startups ranking in 2019 and declared one of the winners of the Construction Startup Competition in 2020.
About Voyage Control
Voyage Control is a technology company that helps companies proactively manage their logistics and supply chain needs including delivery scheduling, optimising materials handling on site and end to end supply chain visibility. Through using Voyage Control, customers can also help meet their sustainability and compliance requirements. Headquartered in the UK, Voyage Control supports customers around the world in multiple sectors with offices in the UK, North America and Asia Pacific. For more information about Voyage Control, please visit www.voyagecontrol.com
About Taronga Ventures
Taronga Ventures, through its Real Tech Ventures Fund, is a technology and innovation investor focused on innovation for the built environment. The Fund is an institutional venture fund that invests into globally scalable entities that will enhance or challenge the way real estate is designed, procured, financed, developed and managed across all sectors. The Fund is focused on developing a diverse portfolio covering sustainability, design, materials and software and provides capital, mentorship and global networks for those companies in which it invests, as well as first mover advantage for the corporates that participate in the Fund. Taronga Ventures has extensive experience across global markets and asset classes and is supported by strategic and institutional partners across Asia, the Middle East and Europe. RealTechX is Asia’s first government supported, industry-focused independent scale-up program for companies impacting real estate and the wider built world. For more information about Taronga Ventures, please visit www.tarongagroup.com
About CEMEX Ventures
Launched in 2017, CEMEX Ventures focuses on helping to solve the main challenges and capitalize on the opportunity areas in the construction ecosystem through sustainable solutions. CEMEX Ventures has created an open and collaborative platform to lead the revolution of the construction industry by engaging startups, entrepreneurs, universities, and other relevant actors to tackle the industry's toughest challenges and shape tomorrow's value ecosystem. For more information about CEMEX Ventures, please visit www.cemexventures.com
CEMEX (NYSE: CX) is a global construction materials company that is building a better future through sustainable products and solutions. CEMEX is committed to achieving carbon neutrality through relentless innovation and industry-leading research and development. CEMEX is at the forefront of the circular economy in the construction value chain and is pioneering ways to increase the use of waste and residues as alternative raw materials and fuels in its operations with the use of new technologies. CEMEX offers cement, ready-mix concrete, aggregates, and urbanization solutions in growing markets around the world, powered by a multinational workforce focused on providing a superior customer experience, enabled by digital technologies. For more information, please visit: www.cemex.com
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