image credit: Freepik

Contech funding plummets in 2023, despite more deals

January 31, 2024

Cemex broke down 2023’s contech funding totals into four categories:

  • Green Construction: Processes, products and services that offset construction’s negative environmental impacts raised $1.06 billion in 2023.
  • Enhanced Productivity: Digital solutions aimed to increase efficiency through technical, data-driven solutions pulled in $701 million last year.
  • Future of Construction: Programs such as AI, robotics and industrialized construction machine-assisted applications, like 3D printing robots, BIM and autonomous equipment garnered $690 million in 2023.
  • Construction Supply Chain: Offerings that help contractors secure materials, such as technologies that track materials and fleets, manage builders’ inventories and material marketplaces earned $584 million last year.

Read More on Construction Dive