Chicago — Online materials supplier Kemgo Inc. has raised almost $800,000 from investors and expects to make its first physical deliveries of plastic resins by the end of the year.
The $775,000 in funding raised so far has come from both companies and private individuals within the chemicals industry, co-founder and co-CEO Joe Naaman said in a recent interview in Chicago. Naaman shares those titles with Ralph de Haan.
Princeton, N.J.-based Kemgo has received requests for PVC resin from customers in the European construction market. The firm aims to supply the material from Asia for use in window frames and other products, Naaman said.
Kemgo was launched in 2015 as a business-to-business e-commerce platform for plastics, chemicals and fertilizers. The firm also may expands its business into oil and gas markets, Naaman said.
Kemgo already has established a presence in Germany and China and is looking to other parts of the world as well. Officials said the firm's goal is to allow customers to more simply find, buy and sell materials. It also provides supply chain, logistics and payment services.