Cemex Ventures, the venture capital arm of global building materials company Cemex, has released its list of the Top 50 most promising Contech startups in 2024. The list showcases startups that are redefining the construction industry across four key areas: Green Construction, Enhanced Productivity, Construction Supply Chain, and Future of Construction. The release of the Top 50 list is accompanied by a report that reviews industry investments in 2023 and provides an outlook on innovation and investment for the coming year.
In 2023, Contech investment totaled $3.03 billion from 236 deals, reflecting a 44% decrease and 3.5% increase from 2022, respectively. The decrease in investment was attributed to macroeconomic forces that affected funding across various industries. However, the increase in Contech deals from 2022 to 2023 demonstrates continued interest and favorable opportunities in the construction industry. The report also highlights that deals related to Enhanced Productivity dominated in 2023, followed by Green Construction, emphasizing the growing demand for digital-based and sustainable solutions in the industry.
Gonzalo Galindo, Head of Cemex Ventures, stated that the Top 50 Contech Startups list helps the company track innovation through investment and technology adoption, as well as assess the health of the construction startup ecosystem. The selected startups on this year’s list come from around the world and share a common objective of revolutionizing the construction industry.
