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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The investment will fuel the expansion of Next’House’s unique concept, starting with a premium location in Dubai. The upcoming property will offer direct beach access, providing guests with the perfect blend of social atmosphere, comfort, and high-end amenities. This new hostel aims to attract a global community of young professionals, digital nomads, and remote workers looking for an inspiring space to work, connect, and unwind.

“Next’House has developed a brand that is perfectly positioned to meet the evolving needs of today’s travelers, especially in a dynamic market like the GCC,” said Mark Aitchison, CEO of EIGHTClouds. “Our investment reflects our belief in the immense potential of the luxury hostel market in the region, where we see a growing demand for more affordable yet stylish accommodations that foster community and creativity. We are thrilled to bring in the strong industry experience of our team to support their growth and introduce a fresh take on hospitality to Dubai.”

Introducing Hostel Culture to the GCC
Next’House is set to introduce hostels to the GCC by blending the casual and social atmosphere of traditional hostels with the upscale amenities and stylish design typically found in boutique hotels. The Dubai location will feature modern co-living spaces, private rooms, and communal work areas equipped with high-speed internet, catering to the needs of remote workers and digital entrepreneurs.

“Dubai is not only a gateway to the GCC, but also a thriving hub for the digital nomad community worldwide,” said Rayan Hanna, Founder & CEO of Next’House. “With this investment, we are eager to bring our vision to the GCC. We believe that by combining the essence of the community hostel experience with the sophistication that Dubai is known for, we can create a truly unique offering that resonates with modern travelers. We also see enormous potential for collaboration with brands and businesses that align with our ethos.”

The investment indeed opens significant opportunities for cross-brand collaboration, allowing Next’House to partner with other EIGHTClouds lifestyle brands and local businesses, such as global barbershop brand Chaps & Co, and UAE food institution MORE Café. The company is also exploring partnerships with local brands that will introduce guests to hidden gems of Dubai.

Unlocking the GCC’s Untapped Potential
The GCC region, with its central global location and growing appeal as a destination for remote work, is primed for the introduction of upscale hostels. The region’s infrastructure, tourism industry, climate, and digital leadership make it an ideal environment for attracting international travelers. EIGHTCloud’s investment underscores a shared belief in the potential for this new segment of hospitality to thrive in the region.

As Dubai continues to establish itself as a global leader in tourism and innovation, Next’House is poised to play a pivotal role in shaping a new trend in the market—one that embraces the spirit of community and adventure that has made hostels popular across the globe.

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This strategic funding, set to commence from the first day of Pathfinder’s listing on NASDAQ in Q4 2024, marks a pivotal development in the company’s growth trajectory.

Investment Details
Silver Rock Group will provide Pathfinder with up to $325 million over the next three years, starting Q4 2024. This substantial financial backing is poised to support the continuous development and global rollout of the RetailGPT platform, ensuring Pathfinder remains at the cutting edge of retail technology.

RetailGPT is a revolutionary digital platform that acts as an extension of physical stores into the digital world powered by Gen AI. The smartphone-based app allows retailers to harness the insights of customer data to optimize processes, customer experience and profitability; it offers shoppers a seamless platform for personalised shopping, integrating retailer rewards and offers, while adapting to individual user habits to tailor product suggestions.

Sadique Ahmed, CEO of Pathfinder, expressed enthusiasm about the partnership, stating: “This robust support from Silver Rock Group validates the transformative potential of RetailGPT. This funding enables us to pursue ambitious growth plans and innovate at scale. We are eager to advance our journey, pioneering new ways for retailers to engage with their customers.” 

Strategic Impact
The infusion of capital will substantially enhance Pathfinder’s capacity for innovation and broaden its market reach, affirming its role as a frontrunner in the Phygital Commerce sector. Silver Rock Group’s commitment underscores its confidence in Pathfinder’s vision and strategic direction, promising to revolutionize the retail landscape.

Forward-Looking Initiatives
Fueled by this partnership, Pathfinder will accelerate its research and development, expand into new markets, and refine its technology stack to better serve the evolving demands of the retail industry. This initiative will not only bolster Pathfinder’s financial footing but will also fortify its credibility and market presence as it steps into the NASDAQ spotlight.

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The financing commitment from ABO Digital brings added value to the gamified users on Blocktrade’s platform, allowing them to explore exciting new product launches and enhanced features. The investment will fuel the development of cutting-edge technologies, providing users with a richer and more immersive experience within the gamified asset marketplace. Additionally, the financing commitment will enable Blocktrade to expand its user base, attract top-tier game developers, and foster strategic partnerships that will further elevate the platform’s offerings.

”Our partnership with ABO represents a paradigm shift in the digital asset industry. We take great pride in being at the forefront of innovation, not only in terms of product and strategy but also from an institutional financing perspective. This collaboration marks a significant milestone in our journey,” said Blocktrade CEO Christian Niedermueller.

“We are excited to support Blocktrade in their mission to redefine the gamified asset marketplace following the launch of the BTEX token,” said Amine Nedjai, CEO of ABO Digital, “The financing commitment not only demonstrates our confidence in Blocktrade’s vision and potential but also highlights our commitment to driving innovation in the digital asset space. By partnering with Blocktrade, we aim to empower users, provide them with new opportunities, and revolutionize the way they engage with and derive value from their gamified assets.”

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“There is unprecedented interest in all areas of AI, and the substantial investment we are making in our Data & AI practice will help our clients move from interest to action to value, and in a responsible way with clear business cases,” said Julie Sweet, chair and CEO, Accenture. “Companies that build a strong foundation of AI by adopting and scaling it now, where the technology is mature and delivers clear value, will be better positioned to reinvent, compete and achieve new levels of performance. Our clients have complex environments, and at a time when the technology is changing rapidly, our deep understanding of ecosystem solutions allows us to help them navigate quickly and cost-effectively to make smart decisions.”

Today’s announcement includes a range of investments that Accenture is making to help companies develop the new strategies, operating models, business cases and digital core architecture they will need to capitalize on AI innovation:

• Accenture will invest in assets, industry solutions, ventures, acquisitions, talent and ecosystem partnerships, which will deepen and develop new skills and capabilities across diagnostic, predictive and generative AI.

• The Data & AI practice will double its AI talent to 80,000 professionals through a mix of hiring, acquisitions and training.

• The new AI Navigator for Enterprise is a generative AI-based platform that will help clients define business cases, make decisions, navigate AI journeys, choose architectures and understand algorithms and models to drive value responsibly. Building on Accenture’s own efforts, the platform will include assets designed to accelerate responsible AI practices and compliance programs.

• Accenture will create accelerators for data and AI readiness across 19 distinct industries as well as pre-built industry and functional models that take advantage of new generative AI capabilities.

• To advance uses of generative AI, its Center for Advanced AI is dedicated to maximizing the value of this technology across clients and within Accenture. This includes extensive R&D and investments to reimagine service delivery using generative and other emerging AI capabilities.

• Accenture will invest in new and existing relationships across its industry-leading cloud, data and AI ecosystems to reinvent the type of work being delivered to clients. For example, developers using pre-built models to enhance prototyping or creators building dynamic virtual environments that can adapt with real-world changes.

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Based at Tec Marina in Penarth, Finalrentals is the brainchild of Ammar Akhtar who is orginally from Pakistan but relocated to the UK from Poland.

With a background in technology building car rental software and websites, Ammar established Finalrentals in Dubai in 2019. Employing a team of eight, half of which are female, the innovative car rental platform is now used by local car rental businesses throughout the world including Canada, the United States of America and United Arab Emirates.

Ammar Akhtar, Founder and Chief Executive of Finalrentals said: “We have worked tirelessly to build the software and get our product known in the market but taking part in the Fintech Wales programme was the catalyst for growth. It gave us a great opportunity to network with the investor community in Wales and benefit from mentorship which has ultimately led to us being able to secure this major investment that will enable us to now scale the business.”

Lead investor and founder of Hwyl.Ventures Eamon Tuhami said: “I was surprised to learn that 52% of the world’s car rental companies are small businesses that struggle to take and make orders online. Ammar and his team have built an innovative platform that has global reach and is already making a difference. It’s been a pleasure to connect him to the ecosystem, see him part of the FinTech Wales Foundry program and introduce him to other angels and funds.”

Tom Preene is Operations Manager for Angels Invest Wales. He added: “As the biggest angel network in Wales, we connect experienced investors with Welsh businesses seeking private investment. Led by experienced investor and business angel Eamon, this particular syndicate will bring real firepower to Finalrentals as one of the world’s best-in-class web applications for car rental providers. We are also pleased to welcome the support of Fuel Ventures.”

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Founded in Athens by CEO Alex Chatzieleftheriou, Blueground is a technology platform that provides users with a simple online booking experience to access long-term rental options in quality apartments located in desirable neighborhoods. Blueground has grown rapidly since its inception in 2013, now operating in 26 cities across Europe, North America and Asia with a portfolio of approximately 8,000 apartments. By the end of 2025, Blueground aims to expand its network of apartments to 35,000 located in 50 cities.

Amer Al Ameri, Head of Venture Capital and Technology Investments at ADQ, said “Our investment in Blueground reinforces our commitment to promoting core sectors of the economy as part of ADQ’s Sovereign Investment Partnership with Greece. The success of disruptive technologies, such as the platform developed by Blueground, will act as a catalyst in accelerating the sustainable development of the Greek economy. With its rapidly expanding operations in mature real estate markets globally, Blueground has a promising journey ahead, coupled with its strong leadership team and vision for the company. Our collaboration will enable us to unlock growth opportunities in line with our mandate in delivering strong and sustainable financial returns.”

Alex Chatzieleftheriou said “The investment from DisruptAD will enable us to continue expanding our portfolio of apartments across the globe, reinventing the way people live by making high-quality apartments available where they want, when they want. As remote working has created greater flexibility in the workforce, our platform is uniquely positioned to support professionals who are looking to find a new home in their city of choice.”

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Aliph Fund I (LP) is a $250 million target private equity fund domiciled in ADGM aiming to invest in high-quality mid-sized companies in the UAE and across the GCC to accelerate their expansion and growth trajectory.

Aliph Capital will seek to acquire sizeable, active positions in privately owned mid-market companies across the GCC that possess robust business fundamentals to realise attractive returns, through active ownership combined with strong value creation opportunities, institutional governance standards and digitalisation.

Aliph has the investment and operational expertise to accelerate growth and scale-up in companies by helping founders adopt technology platforms and tools to grow revenues, optimise operations, and cut costs to ensure the long-term sustainability of its portfolio companies to generate attractive returns.

Huda Al-Lawati, Founder and CEO of Aliph Capital, said “I am delighted and honoured that ADQ has chosen Aliph Capital for this significant investment. The timing is perfect for GCC-based private equity to invest in the region’s midmarket growth stars, who – when fully equipped with digital and tech enablement levers – will generate significant returns and power the ongoing diversification and transformation of the GCC economy.”

Murtaza Hussain, Chief Investment Officer – Alternative Investments and M&A at ADQ, commented “Our investment in Aliph Capital underlines our commitment to delivering on a financially driven mandate that creates long-term value for Abu Dhabi. Building a strategic partnership with an Abu Dhabi-based private equity fund dedicated to serving SMEs further supports our aim to accelerate sustainable economic development and growth within the UAE and region. Together, we will work in partnership to capture growth opportunities, which complement our core portfolio and enable us to generate attractive risk-adjusted returns.”

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Co-founded by Salem Abu-Hammour, Faris Yaghmour and Youssef Said, erad’s secure, data-driven platform evaluates the marketing, sales, and accounting activity of promising online businesses. The applicant’s existing track record and potential capability to scale determine its eligibility for funding.  Funding offers are made within 48 hours, after which capital is deployed instantly. Online payments are facilitated by erad to allow for operational ease and a seamless user experience.

Salem Abu-Hammour, Co-Founder & CEO of erad, said “erad was created to provide online businesses with an alternative solution to bank loans or equity investment, and in turn support the growth of the Middle East’s digital economy.  We saw that there was an emerging online segment in the region, particularly in the e-commerce space, that needed a tailored financial solution to cover user acquisition and inventory costs but didn’t have a financing source that fit them. What sets us apart is that we deep-dive into relevant data to the business, and don’t stop at the company’s assets and financial position.”

Since launching a closed beta programme in May 2022, erad has successfully participated in the Fintech Saudi programme and was one of the first Saudi-based startups to be accepted into the Y Combinator accelerator.  To date, it has onboarded more than 25 startups onto its platform.

Faris Yaghmour, Co-Founder & COO of erad, commented: “When we set out to build erad, we were basing it off our own personal experience having struggled to finance an e-commerce business in the past.  We understood the pain points first-hand and knew what was needed in the solution. The market’s response to erad has been incredible – it has validated what we’re developing, and working closely with the startups who are already using our platform has allowed us to refine our proposition.”

The funds raised in erad’s pre-seed round will contribute to further enhancing the platform and driving the company’s expansion into different markets across the region.

erad is headquartered in Saudi Arabia and is part of the Central Bank of Bahrain’s regulatory sandbox.

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Matt Belcher, CEO & co-founder, CalTier Realty

The disruptive fintech investment platform from CalTier Realty provides offerings for real estate funds to over 5,000 users and unparalleled access to commercial real estate investment regardless of investor experience or starting wealth level.

“We believe that the best investments shouldn’t be solely for the privileged few. Regardless of wealth, knowledge, skill, or location, anyone should be afforded the opportunity to benefit from a variety of wealth-creating opportunities,” said CEO and Co-founder of CalTier Realty Matt Belcher.

CalTier has seen a 3000% rise in user growth between March 2021 and 2022 within a market estimated to be valued at $3 trillion.

The Reg CF raise will help CalTier launch additional real estate portfolio funds, expand its investment platform through integrated blockchain technology, reach more investors globally, expand its team, and offer more alternative investment opportunities not generally available to the everyday investor.

Investment options through its Reg CF start at just $5 per share with a $1,000 minimum investment amount. More investment information is available here.

Award-winning Rialto Markets is partnering with CalTier for its raise with its transformational fintech broker-dealer infrastructure and technology, CEO and Co-founder Shari Noonan said “It’s fantastic to have CalTier Realty on board with us and hosting its Reg CF raise. CalTier’s work to democratize real estate investment aligns greatly with our aim to democratize private security crowdfunding and create more investment opportunities for smaller, accredited and institutional investors.

“It’s essential that private companies such as CalTier continue to scale considering alternative investment methods are becoming increasingly popular with retail and smaller investors.”

Rialto Markets hosts capital raises for multiple high-growth private companies in an ever-expanding private securities market, which Forbes recently forecast would hit a record $7 trillion this year and grow to a staggering $30 trillion by 2030.

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