Cemex Ventures, the corporate venture capital (CVC) and open innovation unit of Cemex, has released its Top 50 Contech Startups 2024 list. The list includes the most promising construction technology startups that are redefining the industry. The startups are grouped into four strategic focus areas: Green Construction, Enhanced Productivity, Construction Supply Chain, and Future of Construction. The report also provides an in-depth review of industry investments in 2023 and an outlook on innovation and investment in the future.
In 2023, investments in Contech totaled $3.03 billion from 236 deals, a 44% decrease from the previous year. However, the increase in Contech deals from 2022 to 2023 indicates that investors still see potential in the industry. Deals related to Enhanced Productivity dominated, representing 45% of total deals, followed by Green Construction with 24% of deals. The demand for digital-based and sustainable solutions reflects the industry’s ongoing transformation.
Gonzalo Galindo, Head of Cemex Ventures, emphasized that the Top 50 Contech Startups list helps track innovation and technology adoption in the construction industry. The selected startups in this year’s list come from different parts of the world but all have the goal of revolutionizing the industry.
