Sources: Cemex Ventures, Madrid; CP staff
The venture capital unit of Cemex S.A.B. de C.V. has invested in StructionSite, a startup promoting digital worksite models to reduce time required to calculate construction progress—a function representing up to 2 percent of total project costs.
StructionSite software generates models with images from 360-degree cameras. Through the user’s position, plus Computer Vision and Machine Learning technologies, it analyzes and illustrates exterior and interior work status. The application obtains contextualized information to enable strategic decision-making, along with improved coordination between project principals and the trades. It offers what Cemex Ventures calls deep differential value by combining support on a web-based platform and mobile application, plus ease of use and integration with other tools to streamline information flow.
StructionSite participated in a ‘500 Startups’ acceleration program, where it demonstrated a business model sufficient to close software sales with major contractors in less than two years after launching. That track record positioned the firm to become what Cemex Ventures considers “a leading solution to transform the construction industry.” In addition to funding, Cemex Ventures expects to increase StructionSite’s North American presence and help it explore international prospects through access to global research & development, marketing and communication support on the strength of cement, concrete and aggregate operations across 50-plus countries.