Cemex Ventures, the corporate venture capital and open innovation unit of Cemex, released the list of the most promising construction technology (Contech) startups of 2024.
The Top 50 Contech Startups 2024 reveals the most disruptive startups that are redefining the construction industry according to Cemex Ventures’ four strategic focus areas: Green Construction (sustainability), Enhanced Productivity (efficiency), Construction Supply Chain (agility), and Future of Construction (disruption).
The 5th edition of the company’s Top 50 list is accompanied by a report with an in-depth review of industry investments and an outlook on innovation and investment in the year to come. Last year, Contech investment totaled $3.03 billion from 236 deals, a 44% decrease and 3.5% increase from 2022, respectively, due to the overall turbulent macroeconomic forces that affected funding across the board. Deals related to Enhanced Productivity dominated, making up 45% of total deals, followed by Green Construction (24%). 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.”
