What were the key criteria for selecting the startups included in this year’s Top 50 Contech Startups list?
The selection process is based on several criteria and is decided by the Investment &  Business Development team. One of the strongest sources to build this list is the Construction Startup Competition, completed with the contributions from our investment and collaboration pipeline. We select startups with unique and innovative solutions that are aligned with Cemex Ventures’ four focus areas—green construction, enhanced productivity, supply chain, and construction future—and their potential to disrupt traditional practices of the construction industry. Overall, we aim to find passionate and resilient entrepreneurs and businesses that are covering the needs and challenges of the current built environment.

What major trends in construction technology stood out among the companies on the list this year?
This year, we saw a surge in solutions addressing the reduction of carbon footprint through sustainable materials (recycled and upcycled materials) and more efficient and productive construction processes.. There was also a noticeable rise in AI-driven tools for project management, project tracking, predictive analytics & maintenance, and automation, as well as advancements in industrialized construction methods and robotics to address labour shortages and efficiency gaps. Beyond our Top 50 report, we saw that 37% of all the capital raised in construction tech ecosystem went to AI, and the largest deals registered in 2024 went to solutions using AI.

Are there any regions or markets that showed a notable increase in innovation or representation in this year’s list compared to previous years?
North America and Europe continue leading the investment activity in our industry with 85% of all Contech transactions. From a deal perspective, Asia-Pacific showed significant growth in representations, with innovative startups tackling challenges unique to densely populated urban areas. Europe also strengthened its presence with growth across all the focus areas, although sustainability and productivity took 66% of the transactions. It seems that sustainability-driven solutions continue reflecting the region’s regulatory pressure to adopt and implement greener construction practices.

How many selected startups focus on sustainability, and what specific solutions stood out in addressing environmental challenges?
We try to build a balanced list of startups across our verticals every year. However, we see solutions from other buckets with a slight sustainability component, such as making processes efficient and greener by consuming fewer resources. In the Green Construction group, key innovations included CCUS technologies, LCA tools, AI tools for optimizing material usage, recycled construction materials and waste management, startups developing alternative cementitious materials and water efficiency & conservation.

With AI becoming increasingly integral, how are the listed startups leveraging artificial intelligence and automation to transform the construction industry?
AI is being used across various phases of the construction value chain, from generative design to predictive maintenance and real-time project monitoring. Many startups on the list leverage AI to optimize workflows, improve safety through automated risk assessments, and reduce project delays by predicting supply chain bottlenecks. Likewise, automation is particularly prevalent in robotics for tasks like bricklaying, 3D printing, site inspections or rebar works. 

Which startups or categories on the list do you see as having the highest investment potential or the greatest impact in the near future?
Startups focused on the sustainability, decarbonization and supply chain efficiency fields stand out for their investment potential, given the pressing demand for tackling industry´s carbon footprint, resource optimization, regulatory pressure and meet carbon budgets and targets. Specifically, those developing low-carbon materials, energy-efficient technologies, and AI-driven supply chain platforms are likely to have the greatest near-term impact. Lastly, the race for full automated sites has started, startups succeeding in automation lowering actual costs and increasing production will also take investors’ attention.

Are any of the startups from the list currently collaborating with Cemex Ventures, and if so, can you share examples of these partnerships?
All the startups included in the list are (or has been) part of our pipeline. While all these companies can benefit from our knowledge, our extensive network, or programs like the Construction Startup Competition, we prioritize those solutions whose vision is aligned with Cemex´s strategic needs and those that can help our operations to be more sustainable and efficient making our corporation more reliable and competitive. For example, some of these startups have participated in our acceleration program LeapLab, others are already collaborating with our operations and others are working with our Global R&D team.

Based on the innovations showcased, what do you see as the most significant opportunities and challenges for Contech in the next 5-10 years?
The most promising opportunities lie in addressing our industry decarbonization challenges throughout the entire construction lifecycle. The optimization of processes to make construction sites leaner and agile performing tasks on time and on budget will continue with capital inflows in the next years. Advances in AI, robotics, and industrialized construction will help to achieve this level of optimization. However, challenges include the slow adoption rate of new technologies due to the fragmented nature of the industry, regulatory hurdles, materials scarcity or the need for substantial investment to scale these solutions globally.

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What inspired you to establish Innotech, and how has the company evolved since its inception?
The inception of Innotech was driven by our deep-rooted passion for robotics and automation, which stemmed from our background in Mechatronics engineering. While working in the oil and gas sector, we realized that our true interest lay elsewhere—specifically in the untapped potential of concrete 3D printing. Recognising a significant opportunity in this emerging technology, we made the bold decision to pivot towards revolutionising the construction industry with automation. Our ambition was clear from the start: to position Innotech as the leading concrete 3D printing company in the MENA region.

Our journey began with a small-scale pilot project in our first year. However, our determination and innovative approach quickly propelled us forward. By our second year, we had successfully constructed 30 buildings using our proprietary 3D printing technology. This rapid growth not only validated our vision but also attracted the attention of investors. Today, we are proud to have secured investment from three prominent venture capital firms across three different countries, further solidifying our position in the market.

How does Innotech leverage 3D printing technology to address key challenges in the construction and manufacturing sectors?
One of the most pressing challenges in the construction industry is the high cost and lengthy timelines associated with traditional building methods. At Innotech, we have successfully mitigated these issues by leveraging automation through concrete 3D printing. This technology allows us to significantly reduce construction costs while expediting project completion times.

Beyond cost and speed, another major concern in modern construction is energy efficiency. We have actively worked on addressing this by innovating with sustainable construction materials that enhance thermal insulation and reduce energy consumption in buildings. By continuously refining our 3D printing processes and materials, we ensure that our solutions contribute to a more sustainable and cost-effective construction ecosystem.

What unique value does Innotech bring to Oman’s technology ecosystem, particularly in automation and sustainability?
Innotech’s core mission aligns closely with Oman’s Vision 2050, which aims to transform the nation into a net-zero carbon economy. One of the primary ways we contribute to this vision is by significantly reducing the carbon footprint of construction projects. Traditional construction methods rely heavily on cement, a major contributor to CO₂ emissions. Our 3D printing technology optimizes material usage, reducing the need for cement while maintaining structural integrity.

Moreover, by automating construction processes, we help minimize labour-intensive practices, which not only cuts costs but also enhances safety and efficiency. Our innovations in automation and sustainability position us as a key player in Oman’s technological transformation, making construction more eco-friendly and cost-effective.

Can you share examples of how Innotech’s solutions have successfully improved efficiency and reduced environmental damage in projects?
One of our most successful projects involved reducing construction costs for a client by 8% through the implementation of our 3D printing technology. This cost efficiency was achieved by minimizing material waste and streamlining labour requirements. Additionally, we have made substantial progress in reducing environmental impact. Our 3D printing solutions use 15% less Portland cement than conventional construction methods, which significantly reduces CO₂ emissions.

By integrating smart construction materials and sustainable design principles, we continue to set benchmarks in environmentally responsible building practices. Our commitment to sustainability ensures that every project we undertake benefits our clients and contributes positively to the environment.

In the field of educational technology, what role does Innotech play in preparing the next generation for the Fourth Industrial Revolution?
Beyond our contributions to construction, Innotech is deeply invested in the educational sector. We believe that the future of Oman’s technology ecosystem depends on equipping the next generation with essential skills in automation and robotics. To support this, we have established a mobile educational lab, funded by BP Oman and operated in collaboration with the Ministry of Education.

This mobile lab travels across the country, introducing students to the fundamentals of robotics and automation through hands-on training. To date, we have provided practical training to over 1,200 students, inspiring a new wave of young engineers and innovators. By nurturing this talent pipeline, we are helping Oman transition into a knowledge-based economy.

What challenges have you faced in scaling your business and adopting advanced technologies in the region?
Scaling a business that introduces disruptive technology comes with significant hurdles. One of our biggest challenges has been navigating regulatory frameworks to secure permits for our innovative construction techniques. Since 3D printing in construction is still a relatively new concept in the region, obtaining approvals has been a time-consuming process.

Additionally, securing venture capital (VC) funding for hardware startups in the GCC has been another challenge. Unlike software startups, which generally require lower initial investments, hardware-focused companies demand substantial capital for research, development, and scaling. Despite these obstacles, our persistence and strategic partnerships have enabled us to overcome these barriers and continue our growth trajectory.

How does Innotech balance innovation with maintaining cost-efficiency for its clients in competitive industries like construction and manufacturing?
We believe that the key to making advanced technology affordable lies in vertical integration. Unlike traditional companies that outsource various aspects of their production, we made the unconventional decision to manage everything in-house. This includes research and development, material production, and manufacturing. While it was a bold and resource-intensive move, it has allowed us to drive down costs and ensure full control over quality and innovation.

By keeping all operations under one roof, we can rapidly iterate on our technology, reduce dependency on external suppliers, and pass on cost savings directly to our clients. This approach has been instrumental in making our 3D printing solutions accessible to a broader market.

What are your long-term goals for Innotech, and how do you envision its role in shaping Oman’s technological and educational future?
At Innotech, our long-term vision is to fully automate construction processes, making homeownership more affordable and environmentally sustainable. We envision a future where advanced robotics and AI-driven automation will significantly reduce the cost of building homes, making sustainable housing accessible to everyone.

Moreover, we aim to expand our educational initiatives, ensuring that future generations are equipped with the skills required to lead Oman’s technological revolution. By fostering innovation in both construction and education, we hope to play a crucial role in shaping the nation’s future as a leader in automation, sustainability, and technological advancement.

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Since Contech’s investment peak in 2021, the industry has experienced a shift, adopting a more selective approach to funding and a stronger focus on solutions that address the sector’s most pressing challenges. The 6^th edition of Cemex Ventures’ Top 50 list includes a comprehensive report featuring an analysis of industry insights for 2024 and a forecast on innovation and investment trends for 2025.

Last year, Contech’s investment totalled US$3.1 billion across 325 deals, marking an approximate 38% increase in the number of deals and only a 2.3% rise in the total amount invested compared to 2023. This growth occurred despite uncertain macroeconomic forces that impacted funding across the board, which demonstrates that investors remain confident in the industry’s potential. In 2024, deals related to Enhanced Productivity dominated, making up 47% of total deals, followed in second place by Green Construction with 24% of deals. The demand for digital and sustainable solutions underscores the construction industry’s drive for digital transformation and its commitment to reaching carbon neutrality by 2050.

“Throughout 2024, our investment experts evaluated the most prominent emerging trends and collaborated with startups across the globe to identify disruptive innovations. Our objective is to invest in solutions that align with our vision of accelerating transformation in the construction sector,” said Gonzalo Galindo, Head of Cemex Ventures. “Our Top 50 Contech Startups list and report offer a strategic view of the sector’s progress, highlighting key investments and the adoption of new technologies while providing a complete picture of the construction startup ecosystem.”

The startups featured in this year’s Top 50 Contech Startups list hail from around the globe, yet they share a common goal: transforming the construction industry. For the complete list of the Top 50 Contech Startups 2025 and to download the report, please visit: https://www.cemexventures.com/top-50/

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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 5^th 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’s investment totalled US$3.03 billion from 236 deals, a 44% decrease and a 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 favourable 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/ 

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The round was co-led by Wa’ed Ventures, the $500 million innovation-focused venture capital fund backed by Saudi Aramco, and by BOLD Capital Partners, a U.S. disruption and transformation focused venture firm. Existing investor Khosla Ventures and new investor KB-Badgers, a South Korean firm investing from its sustainability-focused fund, were among a total of almost 20 investors in the round. New investors contributed more than half of the funds raised.

Funding is earmarked to accelerate development and scale production of new homes for the U.S. market, where new home demand continues to increase, as well as to establish manufacturing operations in Saudi Arabia and the UAE, two of the largest and fastest growing construction markets in the world. The addition of operations in the Gulf region aligns with Mighty Buildings’ strategy to transform housing construction globally, while addressing sustainability, climate-resilience, and the global housing shortage.

“The team at Mighty Buildings have reaffirmed our confidence in the incredible and diverse potential for innovation lying within the construction tech industry. Our investment in the company reflects our belief that innovative materials, as those used in Mighty Buildings’ proprietary 3D-printing, will be a major driver for scalability and sustainability of homebuilding in the Gulf Region,” said Fahad Alidi, Managing Director at Wa’ed Ventures.

Mighty Buildings is meeting a rapidly growing demand for sustainable, prefabricated housing, as evidenced by the delivery of over 50 units to date, an important milestone that reflects the company’s progress in developing scalable housing technology. By focusing on its mission, the company is making it easier, faster and more cost-effective to build homes, while pushing the construction industry towards lower carbon, climate resilient solutions.

“This recent funding underlines Mighty Buildings’ leadership in the modular homebuilding market. It will accelerate our growth by funding the international expansion to one of the most exciting homebuilding regions in the world. We are thrilled about the support from such esteemed investors for our mission: solving the housing and climate crises by transforming the way the world builds homes,” said Mighty Buildings’ CFO Rene Griemens

Following the opening of its innovative, industrial scale factory in Monterrey, Mexico, in 2022, the company continues to emphasize its strategy of transformative home building. Mighty Buildings’ patented factory-based 3D printing manufacturing process speeds construction by 3-4x, providing for the completion of a home’s envelope in less than one week with drastically less water and near zero waste. Using its patented Lumus material, which is 5x stronger than concrete, the technology of Mighty Buildings creates climate-resilient homes that resist severe weather, hurricanes and earthquakes.

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