CEMEX Ventures, the corporate venture capital and innovation unit of CEMEX, published its list of construction technology startups (Contech) with the highest potential for 2024. These startups are transforming the construction industry according to the four strategic focus areas of Corporate Ventures capital: green construction (sustainability), improved productivity (efficiency), construction supply chain (agility), and future of construction (disruption).
In the search for innovation in the industry, Contech has been gaining momentum and new companies have emerged as very valuable solutions to solve some of the most determining issues of the industry. Last year, Contech invested $3.03 billion in 236 deals, a decrease of 44 percent and an increase of 3.5 percent, respectively, compared to 2022, due to the economic crises that have affected financing on different areas.
Despite all this, investors have seen valuable opportunities in the industry and this was visible in the increase in Contech contracts from 2022 to 2023. Improving productivity was the most relevant topic in the contracts followed by green construction in second place. A digital transformation is on the horizon as requests for sustainable solutions increase on the path to achieving CO₂ neutrality by 2050.
“Our investment analysts track investment data throughout the year and continually engage with global startups to find the most innovative solutions that are consistent with our mission to foster the revolution of the construction industry,” said Gonzalo Galindo, director from CEMEX Ventures. «Innovation requires a long-term approach and cannot be defined by just one year, but our Contech Top 50 Startups list and report helps us track innovation through technology investment and adoption and assess the health of the construction startup ecosystem.”