This is a wake-up call: Without any abatement measures from the building materials sector, global demand for concrete – the most widely used material in the world – is projected to generate 3.8 gigatons of CO2 emissions annually by 2050. Cement production—one of concrete’s key components—accounts for 8% of global CO₂ emissions yearly.  

The future competitiveness of the global cement industry will hinge on who can reduce their carbon footprint the most.  A groundbreaking innovator is reshaping cement production in construction with sustainability leading the charge and has now made its way into our investment portfolio to stay: Say hi to Terra CO2. 

What does Terra CO2 do? 

Simply put: Terra CO2 is a Colorado-based startup that has developed a scalable, low-carbon alternative for replacing cement in concrete.  

The American startup produces supplementary cementitious materials and carbon-neutral cement to meet the vast demand, making decarbonized concrete a practical and accessible solution for the construction industry. Terra CO2 offers two standout products:  

1. OPUS SCM: An engineered Supplementary Cementitious Material (SCM) that can be locally produced to address the fly ash shortage. It is derived from plentiful, cost-effective silicate rock feedstock and can reduce CO₂ emissions by up to 70% when partly replacing clinker or other conventional cementitious materials. 

2. Next Gen OPUS ZERO: This visionary product is a full substitute for clinker, resulting in true zero CO2 emissions. It is an advanced cement based on proven inorganic polymer chemistry—a game-changer for the ready-mix industry. 

Why is Cemex committing investment to Terra CO2?

As the open innovation arm of Cemex, we are dedicated to actively identifying high-potential startups focused on advancing green construction and driving sustainability within the sector. With a strong emphasis on decarbonizing the built environment, promoting circular economy principles, and integrating renewable energy solutions, Cemex Ventures is eager to collaborate with startups that align with these objectives. Terra CO2 stands out as an ideal partner, thanks to its sustainable materials solution alternative to traditional SCMs and cement, which plays a critical role in accelerating Cemex’s decarbonization initiatives. 

In simple terms, Cemex is partnering with Terra CO2 to reduce harmful emissions from its production processes, driving the construction industry’s progress toward CO2 neutrality. 

So, let’s dive a little bit deeper… 

How will Terra CO2 and Cemex help each other achieve their objectives?   

In this partnership, Cemex aims to integrate Terra CO2’s solutions across its operations in the Americas and Europe, helping it fulfill its mission of becoming the global leader in carbon reduction within the construction materials industry. This agreement seeks to help Terra CO2 with the following benefits: 

• Tactical investment: The startup gains smart capital to support its continued development. 

• Partner for one of the world’s top construction firms: Cemex Ventures aims to accelerate the growth of the American startup by linking it with Cemex’s vast network and resources, creating synergies, and promoting startup-corporate collaboration. 

• Expertise & specialized knowledge: Leveraging Cemex Ventures’ expertise in progress strategies and the construction industry expertise of Cemex. 

That said, this collaboration is a two-way street: Terra CO2’s technology could help position Cemex as a leader in cutting emissions within the construction industry. This partnership also strengthens Cemex’s ambitious climate action goals outlined in its sustainability program, Future in Action, which aims to reduce Cemex’s greenhouse gas emissions generated by its production processes through its Innovation & Partnerships pillar.  

Who is Terra CO2? 

Founded in 2016, Terra CO2 Technologies is a disruptive startup dedicated to producing sustainable alternatives for cement replacement. Based in Golden, Colorado, United States, Terra CO2 is at the forefront of the sustainable materials industry.

Interesting facts: In 2024, Terra CO2 was granted by the United States Department of Energy (DoE) for the deployment of its clean technology in Utah, United States. That same year, it was named the winner of the “Decarbonization Solution of the Year” award at the inaugural Cleantech Breakthrough Awards program. 

Terra CO2’s team is a group of experts dedicated to deeply decarbonizing the concrete industry, consisting of diverse professional profiles, including scientists, engineers, geologists, plant operators, and more. 

What is their mission? Their mission is to revolutionize cement production and decarbonize concrete, aiming for zero clinker and, ultimately, zero CO2 emissions. 

What’s next?  

As with all our portfolio companies, we’ll keep you informed with all the latest news about Terra CO2 through our digital channels:  blog, social media: LinkedIn & X, and our biweekly Contech Tacos newsletter. 

But if you’re an entrepreneur with an innovative solution that’s addressing critical pain points in green construction (water efficiency, waste management, CCUS, sustainable materials, alternative fuels, and more!), we invite you to contact us! 

Press Release

Madrid, Spain. March 25, 2025. Cemex announced today its most recent investment in climate-friendly & zero carbon cement company, Terra CO2, carried out through its corporate venture capital (CVC) and open innovation unit, Cemex Ventures. Concrete is the world’s second most used material, next to water. The production of cement—a key component of concrete—is responsible for a significant share of global CO₂ emissions annually, thus reducing related emissions in its production process is a critical climate priority for the building sector. 

Terra CO2, an American-based company, produces supplementary cementitious materials and carbon-neutral cement that are scalable to meet the massive demand, making decarbonized concrete a practical and affordable solution for the construction industry. Terra’s first product, OPUS SCM, is an engineered Supplementary Cementitious Material (SCM) made from abundant and cost-effective silicate rock feedstock, capable of reducing up to 70% CO₂ emissions when partially replacing clinker or other traditional cementitious products. Their second product is OPUS ZERO, a 100% cement replacement solution now in full concrete trials. The breakthrough company was granted additional support in 2024 by the U.S. Department of Energy (DOE), for the deployment of its clean technology. 

“Our path to carbon neutrality is stronger than ever. Terra CO2 has emerged as one of the most relevant technologies in today’s market for reducing the carbon footprint at a competitive cost, making it the ideal partner for Cemex,” said Alfredo Carrato, Investment and Open Innovation at Cemex Ventures. “We are thrilled to highlight the synergy with this high-potential Cleantech solution validated by key industry players, as we continue driving the revolution in construction and leading it toward a more sustainable future.” 

“Having one of the world’s leading cement producers invest in Terra CO2 validates our technology and its role in decarbonizing the industry,” said Bill Yearsley, CEO of Terra CO2. “Our approach has always been that to achieve decarbonization of cement; we need to create solutions that work as seamlessly as possible within the existing industry infrastructure. We look forward to working alongside Cemex to integrate sustainable solutions that do not disrupt our industry.” 

Following this initial investment, Cemex aims to integrate Terra CO2’s portfolio of solutions across its operations in the Americas and Europe, positioning the global building materials company as a leader in carbon reduction within the building materials industry. The American startup aims to help Cemex reduce its Scope 1 CO₂ emissions, targeting the direct greenhouse gas emissions generated by its production processes. This investment bolsters the ambitious climate action goals set out by Cemex’s sustainability and decarbonization program, Future in Action, through its Innovation & Partnerships pillar.  

About Terra CO2 

Terra is the standard for cement decarbonization. We enable our partners to unlock real zero cement from source to deployment. As the critical component in creating concrete, the foundation of modern infrastructure, cement is responsible for 8% of the world’s CO2 emissions. The CO2 and NOx emissions associated with cement make finding an alternative to current solutions a climate imperative. 

Unique to Terra CO2 is their capability to work across a diverse range of silicate rock mineralogy, not constrained by feedstock availability. Terra’s technology allows the company to create sustainable construction materials with the most abundant and accessible raw materials on earth from already approved and open mines.  

Terra’s first product, OPUS SCM (Supplementary Cementitious Material), is ready for commercial deployment, capable of replacing up to 50% OPC (Original Portland Cement) and solving the industry’s carbon emissions and dwindling feedstock challenges. Terra’s OPUS ZERO, a complete, real zero cement alternative, is in full concrete trials. Both leverage Terra’s “drop-in” reactor solution, which seamlessly integrates with existing infrastructure and sets the foundation for the transition to real zero cement. 

Validated by third parties, Terra’s materials perform equal to or better than traditional cementitious products. 

Terra CO2 is headquartered in Golden, Colorado, and is led by a team of industry experts. For more information, please visit: https://terraco2.com/ 

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 

About Cemex 

Cemex is a global construction materials company that is building a better future through sustainable products and solutions. Cemex is committed to achieving carbon neutrality through relentless innovation and industry-leading research and development. Cemex is at the forefront of the circular economy in the construction value chain and is pioneering ways to increase the use of waste and residues as alternative raw materials and fuels in its operations with the help of new technologies. Cemex offers cement, ready-mix concrete, aggregates, and urbanization solutions in growing markets around the world, powered by a multinational workforce focused on providing a superior customer experience enabled by digital technologies. For more information, please visit: www.cemex.com 

Communications – Cemex Ventures 

Paloma Hernández 

+34 647 38 34 76 

paloma.hernandez@cemexventures.com 

Media Relations – Cemex 

Jorge Pérez 

+52 (81) 8259-6666  

jorgeluis.perez@cemex.com 

##### 

Cemex Ventures BV is an indirect subsidiary of Cemex, S.A.B. de C.V. Except as the context otherwise may require, references in this press release to “Cemex,” ”we,” ”us,” ”our,” refer to Cemex, S.A.B. de C.V. (NYSE: CX) and its consolidated subsidiaries. This press release contains forward-looking statements within the meaning of the U.S. federal securities laws. Cemex intends these forward-looking statements to be covered by the safe harbor provisions for forward-looking statements in the U.S. federal securities laws. These forward-looking statements reflect Cemex’s current expectations and projections about future events based on Cemex’s knowledge of present facts and circumstances and assumptions about future events, as well as Cemex’s current plans based on such facts and circumstances, unless otherwise indicated. These statements necessarily involve risks, uncertainties, and assumptions that could cause actual results to differ materially from Cemex’s expectations, including, among others, risks, uncertainties, and assumptions discussed in Cemex’s most recent annual report and detailed from time to time in Cemex’s other filings with the U.S. Securities and Exchange Commission and the Mexican Stock Exchange (Bolsa Mexicana de Valores), which factors are incorporated herein by reference, which if materialized could ultimately lead to Cemex’s expectations, expected results, and/or the investment and projects referred herein not producing the expected benefits and/or results. Cemex assumes that the startups referenced in the list referred to in this press release have the rights to their corresponding projects. Cemex is not responsible for any ownership or rights issues that any startup may have with respect to their corresponding project. Forward-looking statements should not be considered guarantees of future performance, nor the results or developments are indicative of results or developments in subsequent periods. These factors may be revised or supplemented, and the information contained in this press release is subject to change without notice, but Cemex is not under, and expressly disclaims, any obligation to update or correct this press release or revise any forward-looking statement contained herein, whether as a result of new information, future events or otherwise, or to reflect the occurrence of anticipated or unanticipated events or circumstances. Any or all of Cemex’s forward-looking statements may turn out to be inaccurate. Accordingly, undue reliance on forward-looking statements should not be placed, as such forward-looking statements speak only as of the dates on which they are made. The content of this press release is for informational purposes only, and you should not construe any such information or other material as legal, tax, investment, financial, or other advice. Cemex is not responsible for any third-party information referenced in this press release. 

There is currently no single globally recognized or accepted, consistent, and comparable set of definitions or standards (legal, regulatory, or otherwise) of, nor widespread cross-market consensus i) as to what constitutes, a ‘green’, ‘social,’ or ‘sustainable’ or having equivalent-labeled activity, product, or asset; or ii) as to what precise attributes are required for a particular activity, product, or asset to be defined as ‘green’, ‘social,’ or ‘sustainable’ or such other equivalent label; or iii) as to climate and sustainable funding and financing activities and their classification and reporting. Therefore, there is little certainty, and no assurance or representation is given that such activities and/or reporting of those activities will meet any present or future expectations or requirements for describing or classifying funding and financing activities as ‘green’, ‘social’, or ‘sustainable’ or attributing similar labels. We expect policies, regulatory requirements, standards, and definitions to be developed and continuously evolve over time. 

This year, we launched a call for the most innovative startups to make a difference and shape the industry’s future with their breakthrough business models to Build Something Bigger Together.  

Construction Startup Competition 2024 called on startups worldwide to submit solutions that make construction more sustainable, efficient, on time, and disruptive.    

The competition’s 8th edition – hosted this year by Cemex Ventures, Caterpillar, Dysruptek by Haskell, Ferrovial, Hilti, VINCI Group’s Leonard, NOVA by Saint-Gobain, Trimble, and Zacua Ventures – saw an impressive response with hundreds of applications from impressive technology startups worldwide. Selecting only 8 winners was definitely a challenge. 

Finally, after months of intense evaluation, we’re thrilled to unveil the 8 winning startups! 

The Winners

Green Construction – Sustainable:

• MIXTERESTING (Austria): Mixteresting’s software enables its customers to develop CO2-efficient concrete by digitally simulating the mixing process, accelerating the development cycle by up to 10 times. This allows them to achieve 5-7% higher margins through more efficient and innovative concrete mixes and reduce CO2 emissions by up to 20% through performance-based optimization: http://www.mixteresting.com
• revitalyze (Austria): The Austria-based startup provides a solution to reduce waste in the construction industry by matching valuable materials from demolition and dismantling projects with the demand for secondary materials from building material manufacturers. They are faster and more cost-effective than existing solutions in building inventory analysis, as they focus solely on identifying materials that can be repurposed: https://www.revitalyze.io 

Enhanced Productivity – Efficient:

• Kraaft (France): Kraaft’s mission is to reconcile field & office teams, which often have difficulty communicating. Their take is to start with what’s already the cornerstone of day-to-day field management: simple chats and to augment those with construction-focused modules so that data gets structured semi-automatically. Their first focus is utility & infrastructure sub-contractors, and we’re starting to expand in the vertical building segment. They have 600+ customers, 15k+ active users in Europe & North America: https://www.kraaft.co 
• GOLD WINNER – Sodex Innovations (Austria): Sodex Innovations improves surveying in construction by installing hardware such as laser scanners, GNSS (Global Navigation Satellite System), and cameras directly on the construction machine. This enables the machines to deliver digital twins of construction sites to our cloud solution in real time. This means the current status can be accessed quickly, reducing manual data collection and processing, saving time, and cutting costs. Their solutions increase transparency, improve documentation, and support project management: https://sodex-innovations.com/ 
• BRONZE WINNER – Trunk Tools (United States): The American startup has developed an artificial intelligence (AI) platform to organize mountains of unstructured data, automate workflows, and augment worker productivity. From identifying data discrepancies to tracking schedule misses, their AI agents are augmenting construction professionals’ intelligence and productivity. Their flagship agent, TrunkText, allows field workers to ask questions about their project documents, receiving answers and supporting documentation in seconds: https://www.trunktools.com 

Construction Supply Chain – On Time:

• Kaya AI (United States): Kaya’s supply chain intelligence platform reduces supply chain risks & minimizes delays to project execution by enabling data-driven lead times, breaking down communication silos & accelerating the coordination between the project team & suppliers. Their proprietary model learns from project data & incorporates progress updates from trades & suppliers to provide a more realistic view of when materials will arrive onsite, enabling a centralized view of end-to-end supply chain activities: https://usekaya.ai/

Future of Construction – Disruptive:

• SILVER WINNER – Raise Robotics (United States): Raise Robotics is a leading construction robotics company specializing in autonomous high-precision fastening solutions for on-site construction. With a deep understanding of the construction industry’s safety, accuracy, and productivity demands, Raise Robotics develops advanced robotic systems that work seamlessly with existing customer workflows, achieving unparalleled results. Their current focus is on deploying robots with contractors to handle the installation and inspection of facade brackets: https://raiserobotics.ai/ 
• GScan (Estonia): GScan uses cosmic rays (muons) to look inside critical infrastructure like bridges, tunnels, buildings, and nuclear reactors. This is the only tech capable of seeing more than 40cm into concrete or steel.  With 30x higher accuracy than industry standards (and only technology capable of scanning concrete deeper than 50cm, their 3D models help asset owners and operators to significantly cut costs by (a) extending infrastructure lifecycle and (b) reducing renovation budgets w/o increasing the risk level: https://www.gscan.eu/ 

Pitch Day 2024

But there’s still one last stop in the competition! 

These 8 winning startups are headed to the ultimate milestone of the competition: Pitch Day to compete for the chance to become the gold, silver, and bronze trophies and receive cash prizes! This year, Pitch Day 2024 will take place at Trimble’s Dimensions User conference on November 12 in Las Vegas, Nevada (USA). 

What is Pitch Day?

Pitch Day is the final stage of Construction Startup Competition, where winning startups are invited to pitch their solutions to a jury made up of executive representatives from the competition host companies – some of the top tier players in the construction industry!   

The winning startups have the gold opportunity to pitch their solutions directly to investors and attend Dimensions, one of the industry’s leading conferences, where they can meet with startup peers, innovators, and investors. Check out all the Construction Startup Competition benefits here. 

Coming up

Just like the competition’s theme, we need to BUILD SOMETHING BIGGER TOGETHER, so stay tuned for the 2025 collaboration opportunities we’ve got in store: 

• January 2024: As we kick off the new year, we’ll be announcing the Top 50 2025 Contech Startups. If you participated in the Construction Startup Competition 2024, your startup could make the list! 

• Spring 2024: The next challenge for construction startups is set to be bigger than ever. If you applied this year, we highly recommend reapplying. Many of our past winners also applied in previous competitions and earned spots in the Top 50 Contech Startups. 

Be sure to follow us on LinkedIn & X to stay up to date on all Cemex Ventures news! 

Press Release

Construction Startup Competition 2024 Names the Eight Startup Winners Revolutionizing the Construction Industry 

• The hosts of the competition – venture capital and construction companies Cemex Ventures, Caterpillar, Dysruptek by Haskell, Ferrovial, Hilti, Leonard by VINCI, NOVA by Saint-Gobain, Trimble and Zacua Ventures – have named the eight winning startup solutions advancing innovation in the construction sector. 

• The eight startup winners will compete for the gold, silver and bronze medals at Pitch Day, taking place at Trimble Dimensions User Conference in Las Vegas on November 12, 2024.  

MADRID, October 22, 2024 – Today the partners of Construction Startup Competition 2024, Cemex Ventures, Caterpillar, Dysruptek by Haskell, Ferrovial, Hilti, Leonard by VINCI, NOVA by Saint-Gobain, Trimble and Zacua Ventures, have announced the most promising startup solutions from this year’s competition with the potential to transform the construction industry.  

The annual competition, now in its eighth edition, received a large number of startup applications from over 70 countries. Startup solutions were categorized into four focus areas that correspond to current pain points in the construction value chain: Green Construction (sustainability), Enhanced Productivity (efficiency), Construction Supply Chain (timeliness), and Future of Construction (disruption). The most promising startup solutions from each focus area were named Construction Startup Competition 2024’s champions: GScan [Estonia], Kaya AI [US], KRAAFT [France], MIXTERESTING GmbH [Austria], Raise Robotics [US], revitalyze [Austria], Sodex Innovations GmbH [Austria] and Trunk Tools [US]. 

The eight aforementioned winners will advance to the competition’s final milestone, Pitch Day 2024, and present their solutions to executive representatives from the competition’s partner companies, industry investors and potential business partners at Trimble Dimensions User Conference on November 12 in Las Vegas, Nevada. The three startups with the best pitches will receive cash prizes, be named the gold, silver and bronze medalists, and continue to be evaluated for potential partnership opportunities with the host companies.  

Over the last eight years, Construction Startup Competition has been a launching pad for more than 3,500 startups to network, validate their solutions through pilots and deployment projects, gain industry recognition, and facilitate fundraising with the mission to advance innovation in construction and promote the adoption of startup technologies. 

As the construction sector undergoes a technological revolution, the competition hosts are saying to startups, “Let’s build something bigger together!” Contech & Cleantech startups looking to meet with investors, pilot their solutions and make a significant impact in the construction industry can join the competition partners and winners at Trimble Dimensions User Conference.  

About Construction Startup Competition 

Since its first edition in 2017, startups from more than 80 countries have participated in the biggest challenge aimed at startups in the construction industry, the Construction Startup Competition. Many entrepreneurs have gone on to collaborate with the participating companies after applying to the Competition. Given the global outreach of its partners, the 2024 edition received an increase in the number of startup applications to identify the most innovative solutions around the world, continue growing the Contech ecosystem and begin agile adoption of applicants’ innovative technologies and business models.   

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 sustainable solutions. 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  

About Caterpillar 

With 2023 sales and revenues of $67.1 billion, Caterpillar Inc. is the world’s leading manufacturer of construction and mining equipment, off-highway diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives. For nearly 100 years, we’ve been helping customers build a better, more sustainable world and are committed and contributing to a reduced-carbon future. Our innovative products and services, backed by our global dealer network, provide exceptional value that helps customers succeed. Caterpillar does business on every continent, principally operating through three primary segments – Construction Industries, Resource Industries and Energy & Transportation – and providing financing and related services through our Financial Products segment. Visit us at caterpillar.com or join the conversation on our social media channels at https://www.caterpillar.com/en/news/social-media.html 

About Dysruptek 

Formed in 2018, Dysruptek is the venture investment arm of The Haskell Company. Dysruptek seeks to invest in disruptive Architecture, Engineering and Construction technologies reshaping the built world. Dysruptek acts as an agent of change and partner to innovators driving meaningful impact across the industry. Invest. Invent. Innovate. For more information, please visit: www.dysruptek.com   

About Ferrovial 

Ferrovial is one of the world’s leading infrastructure companies. The Company operates in more than 15 countries and has a workforce of over 24,000 worldwide. Ferrovial is triple listed on Euronext Amsterdam, the Spanish Stock Exchanges and Nasdaq and is a member of Spain’s blue-chip IBEX 35 index. It is part of the Dow Jones Sustainability Index and FTSE4Good, and all its operations are conducted in compliance with the principles of the UN Global Compact, which the Company adopted in 2002. For more information on Ferrovial, please visit: www.ferrovial.com  

About the Hilti Group  

The Hilti Group supplies the worldwide construction and energy industries with technologically leading products, systems, software and services. With about 34,000 team members in over 120 countries the company stands for direct customer relationships, quality and innovation. Hilti generated annual sales of more than CHF 6.5 billion in 2023 and invests approximately 7 percent of sales in research and development each year. The company is privately owned by the Martin Hilti Family Trust, which ensures its long-term continuity. The Hilti Group’s purpose is making construction better, based on a passionate and inclusive global team and a caring and performance-oriented culture. With more than 280,000 daily interactions with customers, Hilti knows that the most innovative ideas are born on the jobsite. To learn more about Hilti, please visit: www.hilti.group   

About Leonard by VINCI 

Leonard is the innovation and foresight platform set up by VINCI, a global player in concessions, energy and construction businesses, employing more than 280,000 people in more than 120 countries. Leonard was created to imagine the future of the Group’s business lines and is tasked with watching emerging trends in VINCI’s areas of expertise and markets, identifying new growth opportunities, and setting up incubation and acceleration programs for Group employees as well as start-ups. Each year, Leonard supports the acceleration and development of over 40 of the best innovative projects in construction, mobility, energy and real estate. To house these programs and start conversations with all the people blazing new trails in VINCI’s business lines, Leonard opened Leonard: Paris, a 4,500 square meters lab in Paris. Since 2020, Leonard has been expanding operations in Germany, Austria, Switzerland and Latin America. To find out more about Leonard: https://leonard.vinci.com/en/  

About NOVA by Saint-Gobain 

NOVA by Saint-Gobain, the external venture arm of Saint-Gobain, identifies forward-thinking startups around the world whose philosophies align with Saint-Gobain’s focus on sustainability. It helps those startups nurture their ideas and grow their companies to scale through partnerships and investment. With a presence in Asia, Europe and North America, NOVA by Saint-Gobain connects the global startup community with the power, resources, and experience of Saint-Gobain to address the needs of today and challenges of tomorrow. Learn more by visiting https://nova-saint-gobain.com and www.saint-gobain.com 

About Trimble Ventures 

Launched in 2021, Trimble Ventures is a corporate venture capital fund focused on investing in early and growth-stage companies that align with Trimble’s mission of transforming work in the agriculture, construction, geospatial and transportation industries. The fund deploys strategic capital to accelerate the growth of innovative companies and partners that complement Trimble’s products, technology platforms and support its customer’s work. Trimble Ventures targets investing in companies with technologies and solutions related to hardware and software applications; artificial intelligence; augmented, virtual and mixed reality; autonomy and robotics; blockchain; the Internet of Things (IoT) and analytics; and sustainability. For more information on Trimble Ventures, visit: ventures.trimble.com 

About Trimble 

Trimble is transforming the ways people move, build and live. Core technologies in positioning, modeling and data analytics connect the digital and physical worlds to improve our customers’ productivity, quality, safety, transparency, and sustainability. For more information about Trimble (NASDAQ: TRMB), visit: www.trimble.com    

About Zacua Ventures 

Zacua Ventures is a dynamic, early-stage venture capital fund dedicated to tackling the most pressing challenges in Sustainability, Productivity, and Urbanization within the built environment, on a global scale. With our strategic footprint in North America, Europe, Latam and Asia, Zacua Ventures actively supports the most visionary and forward-thinking entrepreneurs. Our mission is to not only fortify their value propositions but also facilitate the global expansion of their ventures, leveraging extensive corporate networks. Zacua has a robust backing from industry-leading corporations worldwide, across the entire value chain of the industry, establishing a distinctive value proposition for our portfolio startups by fostering direct relationships with leading building material manufacturers, contractors, engineering companies, developers, and software companies. Zacua is led by partners with over three decades of combined industry expertise, who, for the past decade, have been at the forefront of investing in cutting-edge construction technology. Discover how Zacua Ventures is shaping the future of the built environment by empowering visionary entrepreneurs at www.zacuaventures.com 

The application phase of Construction Startup Competition 2024 wrapped up a few weeks ago, and this year’s turnout has been through the roof, significantly higher than the last two editions. This fact shows that high-potential entrepreneurs are stepping up like never before to revolutionize the construction industry and bring their solutions to the main stage. 

Are you curious about what types of startups have applied? The applications we received are making over the construction industry from pain-points to disruptive solutions. 

Keep scrolling for an in-depth breakdown of the applications from this year’s biggest startup competition! 

Application Breakdown 

By Country 

Construction Startup Competition has reached every corner of the world. Startups from over 70 countries applied this year, with the United States (27%) leading the ranking—it’s also the country with the highest Contech investment in 2022, 2023, and H1 2024—followed by the United Kingdom (8%). Here are the 10 countries we received the most applications from: 

By Focus Area

Efficiency-focused technologies have taken center stage in 2024. Enhanced Productivity solutions that improve stakeholders’ collaboration, communication, and coordination and promote data-driven decisions to maximize efficiency and quality have undoubtedly been the main stars, accounting for 38.3% of applications. Closely following were sustainable innovations in the Green Construction focus area, making up 28.4%.   

Each Focus Area encompasses a wide range of solutions: Green Construction (carbon tools & calculators, circular construction & waste management, etc.), Enhanced Productivity (geotechnical analysis, project tendering, BIM, etc.), Construction Supply Chain (fleet management, workforce management, last-mile platforms, etc.), & Future of Construction (3D printing, robotics, smart buildings, etc.). Among all these solutions, the ones that stood out due to the large volume of submissions were: 

• Enhanced Productivity: Project Monitoring & Control 

• Green Construction: Sustainable Materials 

• Future of Construction: Industrialized & Automatized Construction 

• Construction Supply Chain: Marketplaces 

Think about how each of these solutions solve a particular pain-point in the construction industry. Startups, what pain-point does your solution attempt to fix? Or Heads of Companies, what solution could your company implement to reduce costs and time, and maximize sustainability? 

By Foundation Year

In this edition, the highest number of applications came from early-stage startups (0-2 years) and more established ones (5+ years). The average age of startup applicants is around 3 years. 

A variable closely related to the foundation year of the startup is the development stage of its solution. The years of experience of the startup provide a framework to understand the solution’s current development stage and evolution. Most solutions in the competition’s application phase are in the early commercialization stage (29%), followed closely by the piloting stage (28%).  

The early commercialization stage for startups involves executing their go-to-market (GTM) strategy. This strategy is a comprehensive plan that businesses use to bring a new product or service to market. It’s a critical moment when startups move toward the commercialization of their technology. The piloting phase focuses on testing the solution in different markets before its full market launch. 

Startups in the idea-to-be-developed phase have the lowest participation rate. Securing funding and support at this point is more complicated because it relies on more risk from investors. While a strong concept is essential, investors, corporations, and other key stakeholders tend to look for proven results & milestones.   

By Project Type 

Construction managers usually group projects by their “end use” to make sure they fit community needs, and that’s one of the approaches we’ve used to categorize the competition’s solutions in the application form. 

Each application received focuses on a different project type, with a big spotlight on commercial (27%) and industrial projects (23%).  

By Funding Raised

Fun fact: In 2004, Facebook, as a young company, secured its first major external investment thanks to Peter Thiel, co-founder of PayPal. Thiel invested US$500K in the social network, representing 10.2% of the company.   

As you can see, not all startups that later became large companies started with early fundraising in the millions. In 2024, most of the competition’s participating startups (with significant potential to discover) raised less than US$100K or between US$100K & US$500K since their founding. 

By Target Customer

Let’s get to the point: who are these disruptive solutions from the startups aimed at? First, it’s crucial to understand that the target customer is the person most likely to buy the company’s products or services. This is the startup’s customer.  

You can define a target customer by different characteristics, such as age, unique spending habits, and a specific income level. When developing a solution as an entrepreneur, it’s crucial to define this role to understand the target customer’s pain points and design technology to address them. 

The target customers for a significant portion of the applying startups, defined by profession, have been main contractors (38%) and owners (22%)—two very influential decision-makers in the sector. 

To get a clearer picture of these target customers, let’s briefly define them: 

• The main contractor is the company (or individual) hired to manage and complete a construction project. They are responsible for coordinating & supervising the work to ensure it meets the client’s specifications. 

• The owner is who starts and funds the construction project. That person is the one who hires the main contractor and is ultimately responsible for the project’s success. The owner defines the project’s requirements and oversees its progress; however, it doesn’t manage the day-to-day construction activities. 

What’s next?

The investment experts from the 9 corporate partners – Cemex Ventures, Caterpillar, Dysruptek by Haskell, Ferrovial, Hilti, VINCI Group’s Leonard, NOVA by Saint-Gobain, Trimble, and Zacua Ventures – are currently evaluating each application in detail to select the finalists. 

Greg Matthews, Senior Director of Strategy at Caterpillar, shared his honest thoughts with us about his experience partnering in the competition: “Caterpillar is excited to participate in Construction Startup Competition. We’ve encouraged innovation throughout our nearly 100-year history. We look forward to seeing the participants’ pioneering solutions that will continue to take the construction industry to the next level.” 

The next big step is the winners’ announcement in late October, & to wrap up, Pitch Day will take place on November 11. Pitch Day is the final milestone of the competition, where the finalists will have the chance to present their solutions to a jury of industry investors & potential new clients. It will be held at the Trimble Dimensions User Conference in Las Vegas. 

Whether you’ve applied or not, we don’t want you to miss any updates about what’s coming up in Construction Startup Competition. You can find all the latest news on our social media channels (LinkedIn & X), blog, and of course, in our Contech Tacos Newsletter: 

Imagine a solution with the potential to solve one of the construction industry’s biggest pain points. A lack of real-time visibility is a major challenge for construction companies, with 70% agreeing that it’s their biggest problem. ObraLink has tackled this issue with a leading-edge solution that’s revolutionizing the industry. 

That’s why we’ve made a 2^nd investment in this startup from our investment portfolio, which enhances productivity by automating construction progress measurements and planning. Additionally, the same technology provides full visibility of the on-site concrete curing process, improving efficiency and reducing human intervention, errors, and costs. 

Keep scrolling to discover the exciting details of this collaboration! 

What does ObraLink do? 

The Chilean startup has developed an innovative technology that is easy to install and automates complicated processes and manual tasks in construction projects, such as progress tracking, planning, and concrete strength monitoring. ObraLink’s platform monitors concrete as it is poured and cures, predicting its strength in real time during construction. This reduces the labor intervention, potentially reducing a project’s structural costs by 10% and shortening construction time by up to 20%. 

The solution comprises 3 key elements:  

1. Software – A 100% automated BIM software that enables contractors to understand project changes and improve decision-making in real-time. 

2. Hardware – Patented hardware technology based on the Internet of Things (IoT), computer vision, and BIM to generate real-time information that can be fitted to any construction site. 

3. Data module – A specialized module for the concrete supplier that automatically shares key data to optimize mixer coordination and control concrete quality. 

Why has Cemex increased its investment in ObraLink? 

ObraLink’s solution has completely transformed the construction sector through digitalization, addressing the lack of automation in onsite progress and concrete maturity tracking processes. 

Cemex Ventures initially invested in ObraLink in 2022. The startup’s scalable technology perfectly complements Cemex’s services, digitalizing manual processes, and improving both execution efficiency and project completion time. Cemex tested ObraLink with a sample of customers in Mexico during an initial roll-out phase.  

Currently, Cemex has made this follow-on investment in ObraLink because of its significant success in the LATAM region and the competitive value it brings. The construction giant aims to invest in solutions with the potential to digitize construction and improve efficiency within the sector together with ObraLink. 

But let’s dive a little bit deeper… 

How will ObraLink and Cemex help each other achieve their objectives? 

Cemex helps ObraLink raise additional capital to fuel its growth while leveraging Cemex Ventures’ expertise in growth strategies and Cemex’s knowledge in construction and building materials.  Through this partnership, Cemex aims to help position ObraLink and expand its reach in the Mexican market and, enter the United States by 2025. 

ObraLink helps Cemex by addressing two crucial industry challenges: data collection & standardization and product delivery logistics. By making construction processes more visible and digital, ObraLink’s solution permits concrete suppliers to anticipate decisions and orders and coordinate logistics, while it helps developers and contractors reduce fixed costs, time, and human error. 

This partnership is closely aligned with one of Cemex’s top priorities: Digital Innovation. It enhances the overall productivity of construction projects and complements Cemex’s core value proposition by digitizing the concrete journey. 

Moreover, this agreement is closely linked to Cemex’s strategic priority of Customer Centricity. By incorporating ObraLink, Cemex enhances the range of services it offers to its customers. 

Who is ObraLink? 

Founded in 2019, the Chilean and UK-based startup made its first steps with Cemex Ventures, appearing in the Top 50 Contech Startups in 2020, under its previous name, SIDCODX. A year later, in 2021, it won the Construction Startup Competition. Now, in 2024, two years after our first investment in the leading startup, we’re betting on ObraLink again with this follow-on investment. 

ObraLink has built a technically robust team of thirty-three members with extensive market and construction knowledge, improving the success rate of the commercial funnel. The company has been very well received in the construction market, attracting well-known global and Chilean construction companies, with a 90% re-purchase rate for its services in successive projects.  Its mission is to enrich and transform construction work through technology. 

Now what?

Like all our portfolio companies, we’ll keep you updated with all the news about ObraLink through our digital channels: blog, social media, and our Contech Tacos biweekly newsletter (we also send memes). 

But if you’re an entrepreneur with a solution that addresses critical pain points in the construction industry, we invite you to apply to Construction Startup Competition 2024 – ONLY 5 DAYS REMAIN! 

Press release

Cemex Ventures invests in the digitalization of construction through second investment in ObraLink 

Madrid, Spain. June 25, 2024. Cemex Ventures, the corporate venture capital and open innovation unit of Cemex, the Mexican multinational building materials company, is doubling down on their commitment to digitalize construction and improve industry efficiency through a follow-on investment in the Chile and UK based startup ObraLink. Following its US$2.0 million pre-series A funding round, ObraLink plans to further integrate itself within the Mexican ready-mix concrete market. 

Lack of real time visibility is a pervasive challenge for construction project planning and efficient execution. ObraLink’s easy to install and operate solution speeds up the construction process by fully automating construction progress, planning and tracking concrete strength on the job site in real-time without the need for human intervention, typically a time-consuming and error prone task. Comprised of 3 main elements, their solution is a 100% automatic BIM software complemented with patented AI hardware technology that generates information in real-time. Key data is then automatically shared in a specialized data module for concrete suppliers to optimize product quality according to the parameters required by the client.  

“Two of the most troublesome pain-points in the construction industry are data collection and standardization, and the logistics of product deliveries. ObraLink has developed a solution that addresses both of these challenges, contributing to a more visible and digital construction industry,” said Gonzalo Galindo, Head of Cemex Ventures. “We are recommitting to ObraLink because of the impressive success they have already amassed in the LATAM region and are looking forward to working closely with them on future projects.” 

“The only way to improve results in the construction industry is through the automation of daily and repetitive tasks during project execution. Digitalization alone is not sufficient to transform the industry. Given the complexity and the number of interconnected tasks and data in project execution, automatic systems are required to reduce the dependence on manual labor in construction,” said Emiliano Pinto, CEO of ObraLink. “We are thrilled to have found a major industry player like Cemex, which shares our vision for the future of construction.” 

This follow-on investment in Obralink is related to Cemex’s Digital Innovation priorities and commitment to customer centricity. Obralink’s competitive solution linked to Cemex’s service offering helps developers and contractors reduce fixed costs by around 10% and avoid logistics complications such as booking changes. Cemex intends to continue to roll out projects with ObraLink to complement its services and product offering to customers.    

About Obralink 

ObraLink is a technological company that automates processes and manual tasks in the execution of construction projects to reduce human dependency, lower costs, and shorten timelines in the industry. ObraLink began its development at the end of 2019 in Chile and the United Kingdom. Currently, the service monitors projects in Chile, Mexico, Guatemala, and Costa Rica. 

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  

About Cemex  

Cemex is a global construction materials company that is building a better future through sustainable products and solutions. Cemex is committed to achieving carbon neutrality through relentless innovation and industry-leading research and development. Cemex is at the forefront of the circular economy in the construction value chain and is pioneering ways to increase the use of waste and residues as alternative raw materials and fuels in its operations with the help of new technologies. Cemex offers cement, ready-mix concrete, aggregates, and urbanization solutions in growing markets around the world, powered by a multinational workforce focused on providing a superior customer experience enabled by digital technologies. For more information, please visit: www.cemex.com  

###  

Cemex Ventures BV is an indirect subsidiary of Cemex, S.A.B. de C.V.. Except as the context otherwise may require, references in this press release to “Cemex,” ”we,” ”us,” ”our,” refer to Cemex, S.A.B. de C.V. (NYSE: CX) and its consolidated subsidiaries. This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. We intend these forward-looking statements to be covered by the “safe harbor” provisions for forward-looking statements within the meaning of the US Private Securities Litigation Reform Act of 1995. These forward-looking statements reflect Cemex’s current expectations and projections about future events based on Cemex’s knowledge of present facts and circumstances and assumptions about future events, as well as Cemex’s current plans based on such facts and circumstances, unless otherwise indicated. These statements necessarily involve risks, uncertainties, and assumptions that could cause actual results to differ materially from Cemex’s expectations, including, among others, risks, uncertainties, and assumptions discussed in Cemex’s most recent annual report and detailed from time to time in Cemex’s other filings with the U.S. Securities and Exchange Commission and the Mexican Stock Exchange (Bolsa Mexicana de Valores), which factors are incorporated herein by reference, which if materialized could ultimately lead to Cemex’s expectations, expected results, and/or the investment and projects referred herein not producing the expected benefits and/or results. Forward-looking statements should not be considered guarantees of future performance, nor the results or developments are indicative of results or developments in subsequent periods. These factors may be revised or supplemented, and the information contained in this press release is subject to change without notice, but Cemex is not under, and expressly disclaims, any obligation to update or correct this press release or revise any forward-looking statement contained herein, whether as a result of new information, future events or otherwise, or to reflect the occurrence of anticipated or unanticipated events or circumstances. Any or all of Cemex’s forward-looking statements may turn out to be inaccurate. Accordingly, undue reliance on forward-looking statements should not be placed, as such forward-looking statements speak only as of the dates on which they are made. The content of this press release is for informational purposes only, and you should not construe any such information or other material as legal, tax, investment, financial, or other advice. Cemex is not responsible for, and expressly disclaims responsibility for, the content of any third-party website or webpage referenced to or accessible through this press release, nor for any quote, expectation, or projection from any third-party contained herein. 

There is currently no single globally recognized or accepted, consistent, and comparable set of definitions or standards (legal, regulatory, or otherwise) of, nor widespread cross-market consensus i) as to what constitutes, a ‘green’, ‘social,’ or ‘sustainable’ or having equivalent-labelled activity, product, or asset; or ii) as to what precise attributes are required for a particular activity, product, or asset to be defined as ‘green’, ‘social,’ or ‘sustainable’ or such other equivalent label; or iii) as to climate and sustainable funding and financing activities and their classification and reporting. Therefore, there is little certainty, and no assurance or representation is given that such activities and/or reporting of those activities will meet any present or future expectations or requirements for describing or classifying funding and financing activities as ‘green’, ‘social’, or ‘sustainable’ or attributing similar labels. We expect policies, regulatory requirements, standards, and definitions to be developed and continuously evolve over time.  

Big marketplaces like Amazon, eBay, & AliExpress have revolutionized supply chains across different sectors. The construction industry is no exception, and the outstanding German marketplace Machine26 is one of the startups leading the way. 

Machine26 is one of our success stories from Construction Startup Competition 2023.  The digital-first startup is transforming the construction industry by making the trade of used construction equipment more efficient and safer through digitalization. 

We all know that great successes don’t just happen overnight, so keep reading to discover their full story! 

Machine26’s history & solution 

History 

Fun fact: Can you guess what the “26” in Machine26 stands for?  

It comes from the fact that the number 26 is the position of the chemical element iron, the main component of any construction machine, in the periodic table. 

Let’s take a look at Machine26’s journey from the beginning to today. 

2019: Machine26 was founded in Berlin, Germany, by Christian Schweiger, Niklas Fritz, and Steffen Schweiger. The Contech startup is supported by renowned German and European institutions such as the Investitionsbank Berlin and the European Union with its European Social Fund. 

2021: The Berlin-based startup was selected by Y Combinator, one of the most famous startup accelerators and venture capital firms from Silicon Valley, to further develop its solution. 

2022: Machine26 exhibits for the first time at Bauma, the world’s leading trade fair for construction machinery, building machines, and construction equipment, among other categories, marking a key milestone for the young company. 

2023: Machine26 applies to Construction Startup Competition 2023 under the Construction Supply Chain focus area. 

2024: At the beginning of the year, the innovative startup is selected by Cemex Ventures as one of the Top 50 Contech Startups of 2024. It also expands its reach, with offices in both Berlin and Paris. 

Game-changing solution 

With a job-to-be-done mindset in customer service, Machine26 has redefined the construction supply chain with its groundbreaking solution, which aims to drive digital transformation in the industry. It provides a marketplace that helps construction equipment owners to sell their machines effortlessly. 

Machine26’s innovative business model includes a digital trading platform for remarketing used equipment to an international dealer network, as well as digital solutions for inspecting the equipment. 

Its Inspection App collects all relevant data on the condition of the machine, enabling customers to receive the best offers from international used dealers. With the help of the Inspection App, fleet owners have a constant overview of the condition and value of their equipment. 

Benefits received from Construction Startup Competition 

By simply applying to the largest startup competition in the industry, startups can quickly scale in the Contech ecosystem, and Machine26 is proof of this! The visionary German startup has experienced several benefits that have helped it achieve its strategic goals: 

• Reputation & recognition for its solution due to the global reach of the competition. 
• Expanding its network of key industry players to reach the right audience. 
• New customers such as Cemex Germany  
• Acceptance in top startup programs: VINCI Group’s Leonard startup accelerator gave Machine26 a spot in its Catalyst Program.
• A great reference for selection by leading construction companies. 

Partnership with Cemex Germany

Since 2023, Machine26 has been partnering with Cemex Germany. The industry giant created its own selling solution for construction machinery with Machine26 and already sold a wide range of equipment such as excavators, wheel loaders, concrete pumps, and smaller equipment. 

The German startup’s goal is to develop this partnership further to expand its market presence globally and continue its steady growth. 

Partnership with VINCI Group’s Leonard

In 2024, Machine26 officially became part of Catalyst’s startup acceleration program after joining VINCI Group’s Leonard SEED program – an acceleration initiative – in 2022. This agreement means that all sales of used construction machinery within the construction giant will be centralized on the Machine26 platform.

Machine26’s Insights 

If you’re wondering how the Machine26 team felt about their experience and what motivated them to apply to Construction Startup Competition.  

Steffen Schweiger, Founder & CEO of Machine26, shared his honest opinion with us: 

What made you apply for the competition? 

“We were impressed by the number & relevance of the organizing companies and motivated to present our product on a global scale and to an industry-specific audience.” 

How was your overall experience? 

“Applying for the Cemex startup competition was a great experience for us. We were selected as one of the Cemex Top 50 and connected to many relevant industry players. For every startup in the construction space, I can recommend participating in this competition. 

Getting selected for the Cemex Top 50 raised awareness for our solution. For example, we were approached by new customers and partners because they were following the competition. It even helped us to promote our products in large corporations where we were used in one country only and ended up talking to other affiliated companies as well.”  

Additionally, one of the nine major partners of the Construction Startup Competition, VINCI Group’s Leonard, shared his thoughts about the competition’s impact on disruptive startups like Machine26: 

“Between 2021 and 2023, 36 new venture capital funds were established worldwide in the construction and public works businesses. This achievement is the result of the collective efforts of players like Leonard, Cemex Ventures, and their partners in the Construction Startup Competition. Additionally, Leonard’s long lasting partnership with Construction Startup Competition is of prime importance to us as we are currently opening applications for our 2025 acceleration programs. Over the past 6 years, these programmes have supported the development of solutions such as Machine26, the marketplace that helps construction machine owners to sell their machines without any effort.”- Julien Villalongue, Managing Director at VINCI Group’s Leonard 

Be the next success story of Construction Startup Competition 2024 

Your startup could be the next success story if you participate in Construction Startup Competition 2024. The deadline to apply is June 30.  

The competition is your biggest opportunity to: 

• Win a cash prize & receive strategic investment 
• Pilot your solution in real markets around the world 
• Expand your network by joining the largest ecosystem in the industry  
• Pitch your solution to the biggest investors in Las Vegas at Pitch Day 2024 

And now, we’re offering you a new benefit: Being part of Leaplab, Cemex’s exclusive acceleration program. By joining the program, you can take part in real-scale pilots across Cemex’s global operations, receive expert support, network with disruptive Contech players, & connect with Cemex as a supplier or partner.  

Every company was once a startup. In 1998, Larry Page and Sergey Brin, the founders of Google, received an initial investment of US$100,000 from Andy Bechtolsheim, co-founder of Sun Microsystems, nowadays known as the “golden boy” of Google. This funding allowed them to incorporate Google as a company officially and kickstart their operations. 

Just as this investor’s capital was crucial for Google’s early growth, venture capital funding is essential for young companies to transform their innovative ideas into successful businesses. 

Keep reading to learn how venture capital funding works & how to secure it for your startup! 

Understanding venture capital funds 

Venture capital, known as VC, is a source of funding for new companies, with high growth potential. It helps new companies and startups set themselves up in the market & strengthen their business model by obtaining financing. 

Venture capital funds provide funding to fuel innovation and growth, often in exchange for a small percentage of equity in the company. The goal of these funds is to create stable and consistent returns over the long term by investing in and managing a diverse portfolio of real assets in one specific or multiple industries. These assets are spread across different sectors and locations. 

In short, a venture capital fund is a type of investment that offers an alternative to a traditional fund. These are the 3 key features that define it: 

• It’s a long-term investment. 
• It has a high level of risk & high reward potential. 
• These funds are managed by institutional investors or private individuals. 

Unlike venture capital funds, corporate venture capitals (CVCs) are investors representing large corporations. Often, companies establish CVC funds to invest in startups and technologies aligned with their business strategy. In addition to providing capital, CVCs also bring industry knowledge, access to potential customers, and the ability to build networks. 

Stages of VC funding

Venture capital funding is divided into 6 main stages. Here’s a quick recap of all of them: 

1. Pre-Seed: This stage marks the starting point of the startup journey. After identifying the business opportunity, the entrepreneur starts to define an idea for creating a product or service. From a prototype or test version, it is possible to get to know the interest that it could have in potential consumers. Other steps in this phase include assembling the initial professional team, laying down the legal foundations, and strategizing.

1. Seed: Investment in this phase is directed toward product development, validation, and conducting operations to promote it. Seed-stage venture capitalists (VCs) often participate in multiple rounds of investment. At this point, a critical aspect for advisors to consider is the founding team behind the company, the team leader must have a clear vision for the project and its mission.

2. Series A: In this stage, companies usually complete their business strategies, such as adding new features to their solution, and create presentations that focus on the alignment between their product and the target market. Here the investors are looking for companies with great ideas and a strong strategy for turning that idea into a successful, money-making business. In this round, companies must have a plan for developing a business model that will generate long-term profit.   

3. Series B: This stage is about proving the performance of the startup solution when the company is ready to scale. Whereas Series A investors will measure the solution’s potential, for Series B they want to see actual performance and evidence of a commercially viable product or service to support future fundraising. 

4. Series C: If your company reaches the Series C funding stage, it is on a growth path! To achieve this, it must have achieved success and obtained incremental funding (getting more money bit by bit) that will help it build new solutions and reach new markets. Key information: to receive Series C and consequent funding, a company must be well-established with a strong customer base. 

5. Bridge: Entering the bridge stage — it’s also called the pre-public stage — means your startup has matured into a full-fledged, viable business. In this stage, many investors will probably opt to sell their shares and realize a substantial return on their investment. With the original investors leaving, that opens the door for late-stage investors to come in hoping to gain from an IPO (Initial Public Offering) or sale.  

The role of venture capitalists 

A venture capitalist is an investor who provides funding to startups with high growth potential in exchange for an equity stake. Venture capitalists typically seek companies with a robust management team, a sizable potential market, and a distinctive product or solution with a significant competitive edge, as well as the chance to influence the direction of the company. 

The benefits of VC go both ways: venture capitalists who invest in companies receive interest in their investments, and startups in their early stages receive the funding and mentorship necessary to achieve their growth strategies. It’s a win-win! 

Some of the most well-known venture capitalists are Jim Breyer, an early investor in Facebook, and Peter Fenton, an investor in X (formerly Twitter). 

How to get venture capital funding 

Obtaining venture capital is no easy task, as it involves competing with other companies also looking for funding & convincing highly selective investors. Here are some key strategies to make it easier: 

1. Explore the market: The first step, and one of the most crucial ones, is identifying venture capital firms whose interests align with your business. For instance, if your solution solves a pain point in the construction industry, you may seek VC & CVC firms specializing in Contech or Cleantech. 

2. Identify your target investor: Finding the right investor for your business is essential. Are you looking for a solely financial investor or a strategic one as well? Venture capital funding isn’t a one-size-fits-all solution. It’s typically better suited for businesses with strong growth potential, cash flow & a solid team. 

3. Reach out to your target investors: Try searching VC firms and investors on LinkedIn to see if there are any connections between the firms and people you know. If you find a connection, you could ask for an introduction or send an email directly to each VC. Moreover, venture capitalists often attend industry conferences and events. Networking and attending these events are a great way to forge solid and meaningful relationships. 

4. Develop a strong pitch: Communication is key. When reaching out to potential investors, make sure to get straight to the point and capture their attention effectively. Introduce yourself and provide a brief overview of your business, highlighting the problem you are solving your value proposition, and what sets you apart. Additionally, emphasize the performance of your business so far, showcasing any notable milestones reached.   

5. Negotiate: The moment of truth has come. Once you have found a potential VC or CVC to team up with, it’s time to negotiate. In this phase, term sheets play an essential role, they serve as preliminary, non-binding agreements where the key terms of the VC investment are outlined and agreed upon before any official documents are signed. These term sheets include pivotal points such as how much the VC firm is offering to invest and how much equity it looks for in return. 

Venture capital funding in the construction industry: The impact of Cemex Ventures 

Cemex Ventures is the CVC and open innovation unit of Cemex, meaning we actively explore, accelerate, partner with, and invest in promising startups to fulfill our mission to foster the construction industry revolution. As a financial & strategic investor, our goal is to generate strategic returns and elevate the overall value of the parent We are looking for the most promising startups with groundbreaking solutions to make the construction industry more sustainable, efficient, agile, & disruptive.

Does your startup fall within this scope? Construction Startup Competition is the biggest opportunity to propel your solution to the next level – apply now and get in contact with us – applications are open until June 30. 

Welcome to Cemex Ventures’ May Blast! We’re here to bring you the latest Contech & Cleantech deals, hot off the press, that are revolutionizing the construction ecosystem this month. 

Dive into the most thrilling deals! 

1. AlterBiota raises $4M in seed funding: Sydney, N.S.-based alterBiota has received US$4 million in seed funding to increase hiring and upgrade its commercial-scale facility to make a concrete additive based on biographene. Read more! 

2. Lucid Bots secures $9.1M in Series A funding: Lucid Bots, a Charlotte, NC-based company that specializes in robotics for labor-intensive tasks, raised US$9.1 million in Series A funding. The round was led by Cubit Capital. Read more! 

3. BamCore obtains $13.9M in venture round: BamCore, a manufacturer of bamboo-based building materials, announced the completion of a $13.9 million venture round. This latest funding brings BamCore’s total funding to US$142.2 million across ten rounds. Read more! 

4. AssetWatch raises $38M in Series B funding: AssetWatch, Inc., a leading condition monitoring and predictive maintenance organization, today announced closing its Series B financing round of US$38 million. Read more! 

5. SpatialAIGPT.ai announces $3.4M in seed funding: New Australian generative artificial intelligence startup SpatialGPT.ai has raised US$3.4 million in seed funding to redefine spatial environments across various sectors. Read more! 

6. Fiberwood raises €7.7M in growth funding: Fiberwood, a Järvenpää, Finland-based materials technology startup, raised €7.7 million in growth funding. Backers included Metsä Spring & Stephen Industries, together with public financiers. Read more! 

Whether you are a startup, SME, corporate, building professional, media journalist, or just want to find out more, we encourage you to contact us through our website or follow us on LinkedIn & X. 

You can also keep up to date with the newest Contech deals and news by subscribing to our biweekly Contech Tacos newsletter!    

Some of the biggest names in construction tech have participated in past editions of Construction Startup Competition! This competition propels startups into the spotlight, giving them visibility and recognition among the top Contech players in the industry. 

We’re bringing you one of the epic success story from Construction Startup Competition 2022 winner Exodigo: a Tel Aviv & San Jose-based startup who’s revolutionizing excavation in construction.  

Keep scrolling to see how Exodigo has grown its footprint, raised funding, and successfully carried out its mission to power the next era of underground exploration. 

Exodigo’s history & solution 

History 

Exodigo is a successful startup in the Contech sector, but like all startups, it had to start from somewhere. Here’s a quick recap of its journey thus far: 

2021: Exodigo was founded in Tel Aviv, Israel, under the values of trust, scale, precision & sustainability. 

2022: In February, two significant milestones took place! Exodigo raised seed funding & launched its first commercial operations in the United States. Now, it has its headquarters in Tel Aviv & San Jose, CA.  

In October, Exodigo received a strategic investment from National Grind Partners, as part of its commitment to fighting climate change & was named one of the winners of Construction Startup Competition 2022. Finally, as the final touch to this year, Exodigo earned the distinction of being one of TIME Magazine’s Best Inventions of 2022. A year full of action! 

2023: Exodigo began its expansion into the European continent & and was selected as one of the Top 50 startups of 2023 by Cemex Ventures. In November it was listed as one of the Most Promising Tech Companies in the World by CB Insights. 

2024: The San Jose-based startup secured a significant strategic investment & obtained funding from the U.S. Department of Energy earlier in the year. (Read until the end for the unveiling of their 9-figure investment round!) 

Innovative solution

Exodigo is transforming excavation in construction using artificial intelligence and 3D imaging. Their multisensory technology allows for the creation of precise images of underground conditions without the need to disturb the earth during construction projects. This ensures safer conditions for workers, eliminates the need for excavation, reduces costs for companies, and enhances sustainability by preventing environmental damage. 

Construction Startup Competition 2022 aftermath 

Crowned as one of the winning startups in the competition’s Enhanced Productivity category, Exodigo’s team has experienced notable advantages that have contributed to their goal attainment. 

Networking & piloting 

The Israeli startup built strong relationships with industry leaders such as VINCI, Ferrovial, & Dysruptek by Haskell, who were competition partners in the 2022 edition. As a result of these connections, Exodigo conducted pilots with VINCI Group’s Leonard & Ferrovial: 

Pilot with VINCI Group’s Leonard 

In 2023, Exodigo partnered with VINCI & GRDF to address a significant challenge in France. The country’s regulations mandate precise utility locations before construction begins. However, construction companies’ reliance on outdated utility records for their location has resulted in thousands of gas line damages across multiple sites during excavation.  

The pilot project aimed to assess Exodigo’s solution for accurately mapping underground assets, providing a reliable alternative to traditional methods such as excavation, and improving safety, budgeting, and compliance in construction. 

The result? Exodigo’s solution found 57% more underground utilities than what the existing records showed.  

Pilot with Ferrovial 

Exodigo played a crucial role in Ferrovial’s Wastewater treatment project by leveraging its multi-sensing fusion and AI technology to craft precise underground maps of a brownfield site in Texas. This collaboration enabled Ferrovial to accurately comprehend the locations of subsurface assets and hazards. These detailed maps guided Ferrovial’s subsequent planning, ensuring the efficient execution of the facility’s expansion. 

Expansion & strategic investments 

Following its participation in Construction Startup Competition, Exodigo successfully achieved the principal objective for which it applied: expanding its presence in the United States & beyond. Between 2022 and 2024, Exodigo expanded its presence in Europe by entering markets in the United Kingdom & France, significantly increasing its team. 

In the 1^st quarter of 2024, success has not stopped: Exodigo announced a US$105M Series A Round & won ARPA-E funding from the U.S. Department of Energy to improve America’s aging power grid by developing cost-effective, high-speed, & safe undergrounding technologies. 

Exodigo’s insights 

Wondering what Exodigo’s experience was like at Construction Startup Competition 2022? Here’s a firsthand insight: 

“Being a part of the Cemex Ventures program was a great opportunity for our growing startup. We were able to engage with some top companies in the industry and have since done projects with both Ferrovial and VINCI, who we met through the program. Since finishing the program, we have also closed a historically large Series A Round, launched in the UK and France, nearly doubled the size of our team, and won a grant from the U.S. Department of Energy. We are confident that the rest of 2024 and beyond will bring more success for us!” – Bret Simon, Utilities Partnerships Lead at Exodigo 

Why you should apply to Construction Startup Competition? 

If you want to scale exponentially & take your startup to the next level, apply to Construction Startup Competition 2024 and reap the benefits: 

• Expand your network by joining the biggest ecosystem in the construction industry, made up of 5000+ startups and 300+ investors & corporate partners. 
• Selected winners will receive cash prizes. By applying, you’ll also be eligible to receive strategic investment. 
• Gain visibility and start conversations to pilot & test your solution in real markets anywhere in the world. 
• Pitch your solution to executive representatives of the competition partners on the biggest stage for construction investors at Pitch Day 2024. 

We’re breaking boundaries with our innovative Leaplab startups! This year, Cemex’s exclusive acceleration program was selected and invited to attend Startup Grind Global 2024 as a delegation in the heart of technological innovation, Silicon Valley, California.  

What is Connection Day?   

Connection Day is the final step in Cemex Ventures Leaplab’s program, where the cohort gets the opportunity to expand their strategic connections in a world-class event within the entrepreneurial ecosystem & took place at the Startup Grind Global Conference 2024 on April 23^rd & 24^th. 

The exclusive event drew in investors and around 150 startups from over 30 countries. Among them, all 5 startups from Leaplab’s 2^nd edition cohort showcased their solutions to potential clients and eager investors, marking a golden opportunity provided by our Leaplab accelerator.  

The participation of these startups in the Leaplab program has marked a before and after in their trajectory. The journey through Cemex Ventures’ acceleration program increased their opportunities to connect with other relevant players in the sector and exponentially raised the chances of scaling their solution. 

Here are the high-potential Leaplab startup solutions that were highlighted: 

• Introid: (Mexico) Has created innovative solutions in AI & computer vision to enhance safety and efficiency across sectors including industry 4.0, mobility, retail, security, and smart cities.  
• Mixteresting: (Austria) Has designed a software tool that uses mathematics & AI to digitally simulate the mixing process and suggest optimized concrete mixtures. This results in less time for developing new concrete mixtures at lower cost and CO₂ footprint.  
• Movener: (Chile) Has developed & patented the “E-Power”, an electric technology system that converts diesel engine trucks into hybrid units, reducing fuel consumption and CO₂ emissions. 
• Verusen: (United States) Has created an AI platform that assists global enterprises in their MRO (Maintenance, Repair, and Operations) inventory management. 
• Waterplan: (United States) Has developed an all-in-one climate platform to measure, respond to, and report on organizations’ evolving water risks to accelerate the transition to a Water-Secure World. 

The 2023 cohort relished 3 action-packed days, featuring pitches, one-to-one meetings with investors, roundtables, founder education workshops, and networking with potential clients. Keep reading to see more! 

Startup Grind Global Conference 2024 

The Summit 

Pre-event: Learning and connecting 

Leaplab startups got the opportunity to participate in the Accelerate Summit, an exclusive event for Global’s exhibiting startups and investors. Activities included talks, round-tables, workshops on founder education, and networking opportunities. The highlight of the day was a fireside chat with Spenser Skates, Amplitude’s CEO & Co-Founder, where he provided relevant insights on building a US$1.4bn software giant from seed stage to IPO (Initial Public Offering).  

The Conference 

Day 1: Pitching and exhibiting 

On the first day of the conference, Introid, Mixteresting, Movener, Verusen, and Waterplan displayed their exhibition stands and brought their technology-based value propositions to the forefront of investors and potential partners’ minds with their 1-minute pitches. Check them out here! 

Introid – René Padilla (Co-Founder & CEO) 

Mixteresting – Florian Spinkler (Co-Founder & Head of Development) 

Movener – Héctor Novoa (Head of Design) 

Verusen – Scott Matthews (CEO) 

Waterplan – Augusto Cordero (VP of Operations & Strategy) 

Day 2: Networking with investors 

Great things stem from strong connections! The startups focused on multiplying their networking efforts and expanding their knowledge by meeting with potential investors and attending educational sessions and talks. Notable discussions included: 

• “Striking a balance: Revenue and Venture Funding for Startups” by Sangeeta Chakraborty, Chief Revenue Officer of Miro & Michael McBride, General Partner of Google Ventures. This discussion centered on the challenge of balancing revenue generation with a strategic utilization of venture capital. Sangeeta explored how startups can achieve equilibrium by focusing on operational profitability through strong unit economics while using VC funding strategically to accelerate growth, all without becoming overly dependent on external capital.  
• “Building Tomorrow: Shaping the Future of Innovation, Technology, and the Economy” by Garry Tan President, CEO of Partner Y Combinator & Derek Andersen CEO and Co-Founder of Startup Grind. Tan discussed the vital role that startups play in driving future innovations and economic expansion, emphasizing the significance of community and highlighting the transformative impact of technology, especially AI, in enhancing human well-being. 

Leaplab Testimonials 

Don’t just take our word for it, this is what Leaplab’s amazing 2^nd edition cohort had to say: 

“Startup Grind Global 2024 has been incredible. We have taken full advantage of both investor meetings and the possibility of getting in contact with many startups that share the same desires and growth expectations as us.” – Héctor Novoa, Head of Design at Movener 

“We met lots of business connections, lots of potential partnerships, different startups, and met some very interesting investors. We scheduled some meetings with them… overall a great experience.” – Florian Spinkler, Co-Founder & Head of Development at Mixteresting 

“I really enjoyed Startup Grind Global. Especially if you are an entrepreneur, I think it’s an amazing experience. I have enjoyed a lot the exposure and getting to network with all these amazing entrepreneurs, investors, and venture capital representatives.” – René Padilla, Co-Founder & CEO at Introid 

“Cemex Ventures is committed to shaping the entrepreneurial landscape and fostering strategic connections within the open innovation ecosystem. I’m enthusiastic about the value captured by the Leaplab’s 2^nd edition cohort in this event as they forged stronger ties with the Silicon Valley vibrant community.” – Karla Arrambide, Cemex Ventures Manager

Join the upcoming 3^rd Edition of Leaplab!  

At Cemex Ventures Leaplab, Cemex’s exclusive acceleration program, we’re seeking high-potential startups that address strategic challenges in the construction industry. 

By joining the program, you can participate in real-scale pilots across Cemex’s global operations, receive qualified solution validation and mentoring from experts in the industry, expand your network, and be able to connect with Cemex post-program as either a supplier or partner. 

Leave us your contact to be considered for the program’s 3^rd edition!