Cemex Ventures has unveiled the 2024 edition of its highly anticipated list, showcasing the 50 most promising construction technology (Contech) startups.
This list, titled “Top 50 Contech Startups 2024,” highlights the startups that are leading the charge in redefining the construction industry. These startups are aligned with Cemex Ventures’ four strategic focus areas:
- Green Construction (emphasizing sustainability)
- Enhanced Productivity (aiming for efficiency)
- Construction Supply Chain (focusing on agility)
- The Future of Construction (centered on disruption)
The 5th edition of Cemex Ventures’ Top 50 list comes with a comprehensive report. This report offers a detailed analysis of industry investments in 2023 and provides insights into the trends of innovation and investment for the upcoming year.
Over $3 billion invested in Contech in 2023
In 2023, investments in Contech reached a total of US$3.03 billion across 236 deals. This figure represents a 44% decrease in investment and a 3.5% increase in deal volume compared to 2022. These changes are attributed to the widespread macroeconomic challenges impacting funding globally. Despite this, the increase in the number of Contech deals from 2022 to 2023 indicates a continued investor interest in the sector.
The year 2023 saw a majority of deals, 45%, in the Enhanced Productivity sector, followed by Green Construction, which accounted for 24% of the deals. This trend underscores the construction industry’s commitment to digital transformation and its goal to achieve CO2 neutrality by 2050.
A long-term perspective on innovation
Cemex Ventures is the corporate venture capital (CVC) and open innovation unit of Cemex.
Gonzalo Galindo, the Head of Cemex Ventures, shared insights on their approach, stating, “Our investment analysts track investment data throughout the year and continually engage with global startups to target the most innovative solutions consistent with our mission to foster the construction industry revolution.”
Galindo emphasized the importance of a long-term perspective in innovation, noting that while innovation cannot be confined to a single year, the Top 50 Contech Startups list and accompanying report are instrumental in tracking innovation through investment and technology adoption, as well as assessing the health of the construction startup ecosystem.
Get your copy of the report
The startups featured in this year’s Top 50 Contech Startups are globally diverse but share a common goal: to revolutionize the construction industry.
To explore the complete Top 50 Contech Startups 2024 list and access the full report, please visit Cemex Ventures’ website at https://www.cemexventures.com/top-50/.
Also, listen to my interview with Galindo.