• Despite an overall decline in venture capital spending in 2023, the Contech sector remains resilient with an increase in deals compared to 2022, making up an increasing segment of total venture capital investment.
• Cemex Ventures presents its Top 50 2024 list and report, naming the top startups to watch together with an in-depth review of industry investments in 2023 and an outlook for 2024.
Cemex Ventures, the corporate venture capital (CVC) and open innovation unit of Cemex, released today the list of the most promising construction technology (Contech) startups of 2024. Top 50 Contech Startups 2024 reveals the most disruptive startups that are redefining the construction industry according to the corporate venture capital’s four strategic focus areas: Green Construction (sustainability), Enhanced Productivity (efficiency), Construction Supply Chain (agility), and Future of Construction (disruption).
Since 2021, Contech has been gaining momentum as the construction industry faces pressure to innovate, and startups have emerged as crucial stakeholders helping to solve some of the industry’s most critical pain points, leading its evolution. The 5th edition of Cemex Ventures’ Top 50 list is accompanied by a report with an in-depth review of industry investments in 2023 and an outlook on innovation and investment in the year to come.
Last year, Contech investment totaled US$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. However, the increase in Contech deals from 2022 to 2023 also reveals that investors continue to see favorable opportunities in the industry. In 2023, deals related to Enhanced Productivity dominated, making up 45% of total deals, followed in second place by Green Construction with 24% of deals. 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.”
The selected startups in this year’s Top 50 Contech Startups edition come from all over the world, however, they all boast solutions with a unified objective: to revolutionize the construction industry. For the full list of the Top 50 Contech Startups 2024 and to download the report, please visit: https://www.cemexventures.com/top-50/
About Cemex Ventures
Launched in 2017, Cemex Ventures focuses on helping overcome the main challenges and capitalizing on the opportunity areas in the construction ecosystem through solutions that consider sustainability. 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. For more information on Cemex Ventures, please visit: www.cemexventures.com