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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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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Accepting applications up until December 16, 2024, the accelerator is focused on three key areas: sustainable binder solutions, new materials and applications, and CO₂ mineralised materials. Interested startups can click here to apply.

Targeting Seed to Series B startups, CRH Ventures are seeking innovations in sustainable binders that enhance the carbon performance and circularity of cement and concrete, as well as novel materials that could transform conventional construction practices. Companies utilising CO₂ for carbon storage within construction materials are also encouraged to apply.

Through this program, CRH Ventures will pilot cutting-edge technologies, offering finalists access to CRH’s global network of 200+ operating companies and extensive industry expertise.

Eduardo Gomez, Head of CRH Ventures, emphasised the company’s commitment to decarbonising the construction industry: “The Sustainable Building Materials accelerator reflects CRH’s focus on advancing innovations that can significantly reduce the environmental impact of construction. We look forward to collaborating with promising startups that share our goal of building a sustainable future.”

The accelerator application process will conclude with a live pitch day in early March 2025, where the most promising 10-12 startups will showcase their solutions.

Selected finalists will also be eligible for potential investments from CRH Ventures to further support them pilot and scale their innovative tech solutions.

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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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