CEMEX Ventures, the corporate venture capital and open innovation unit of CEMEX, has released its list of the most promising construction technology (Contech) start-ups of 2024. The list reveals the most disruptive start-ups that are redefining the construction industry according to the corporate venture capital’s four strategic focus areas: green construction (sustainability), enhanced productivity (efficiency), construction supply chain (agility), and future of construction (disruption).
Since 2021, Contech has been gaining momentum as the construction industry faces pressure to innovate, and start-ups have emerged as crucial stakeholders helping to solve some of the industry’s most critical pain points, leading its evolution. Last year, Contech invested US$3.03bn across 236 deals, a 44 per cent decrease and 3.5 per cent increase, respectively, compared with 2022, due to the turbulent macroeconomic forces that affected funding across the board. However, the increase in Contech deals from 2022 to 2023 also reveals that investors continue to see favourable opportunities in the industry. In 2023 deals related to enhanced productivity dominated, making up 45 per cent of total deals, followed by green construction with 24 per cent. The demand for digital-based and sustainable solutions affirms construction’s ongoing digital transformation and fight to achieve CO₂ neutrality by 2050.
“Our investment analysts track investment data throughout the year and continually engage with global startups to target the most innovative solutions that are consistent with our mission to foster the construction industry revolution,” said Gonzalo Galindo, head of CEMEX Ventures. “Innovation requires a long-term approach and cannot be defined by a year alone, but our Top 50 Contech Startups list and report helps us track innovation through investment and technology adoption and gauge the health of the construction startup ecosystem.”
