CEMEX Ventures has announced its investment in X3 Builders. X3 Builders is a vertically integrated general contractor that combines architectural design, material procurement, and construction services to provide clients with a one-stop solution and a seamless transition from design to construction.
This California-based startup is a completely new type of general contractor due to its 100% technological approach. It provides real-time pricing during the design process to reduce cost uncertainty and wasteful redesign efforts. It also standardizes material selection and works directly with suppliers to procure materials, eliminating submittals and lead-time delays. Their in-house software helps to manage the process end-to-end, simplifying the complexities of construction and automating most of the construction administration and accounting process.
Although X3 Builders was founded just over a year ago, the startup’s employees boast vast experience in both the construction industry and the entrepreneurial world. The company started out by exploring payment automation processes, and it went on to further develop its solution to include the automation of the complete construction management process. Thanks to the team’s extensive experience in the field, they have been able to incorporate solutions to everyday needs.
By having more data readily available and controlling the pre-construction phase, it’s possible to simplify many of the subsequent processes in the project’s life cycle and to reduce overall project costs. That is why so many property owners are willing to try this end-to-end solution, relying on the transparency and regional pricing data offered by X3 Builders. This type of client forms part an increasingly common profile, defined by this American startup as modern owners and tenants with a technological spirit.
Gonzalo Galindo, CEO of CEMEX Ventures, said, “Our investment in X3 Builders is a tremendous boost for the digitization of the construction industry. It allows us to get to the very heart of the digital and technological world—which is the path that all construction companies will end up taking. We can also help this start-up to continue to expand and become more established in the different phases of a construction project’s life cycle, such as design and supply chain.”
Launched in 2017, CEMEX Ventures focuses on helping overcome the main challenges and capitalizing on the opportunity areas in the construction ecosystem through sustainable solutions. CEMEX Ventures has developed an open collaborative platform to lead the revolution of the construction industry, engaging startups, entrepreneurs, universities, and other stakeholders to tackle the challenges in the construction environment and shape the industry’s future.
Source: CEMEX Ventures, Madrid, Spain. October 22, 2019