Cemex Ventures announces Top 50 Contech Startups of 2023
By Catrin Jones24 January 2023
Cemex Ventures, Cemex’s corporate venture capital and open innovation unit, has launched its annual Top 50 list of construction technology startups.
The startup solutions included in the list are classified according to Cemex Ventures’ four strategic focus areas: Green Construction, Enhanced Productivity, Construction Supply Chain, and Future of Construction.
After an active year of investment in 2022 totalling US$5.38 billion and almost 230 deals, the startup ecosystem in 2023 is anticipated to be just as strong.
The Top 50 2023 list is accompanied by an industry report reviewing key investment trends and figures from 2022 as well as forecasting future venture capital activities in the year to come.
Last year, it is said that solutions related to enhancing productivity made up 53% of total deals, followed by new construction methods and advanced solutions such as offsite construction or construction robotics at 20.6%. Green construction, which was the strongest category in 2021, placed third, at 14.9%, followed by construction supply chain with 11.4%.
“Consistent investment activity in 2022 speaks to the sector’s resilience during a year that saw substantial decreases in investment across the board. Contech is incipient, meaning there’s more money flowing in and a less crowded marketplace with more opportunities for startups,” said Gonzalo Galindo, Head of Cemex Ventures.