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 2nd 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!
Table of contents
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:
- Software – A 100% automated BIM software that enables contractors to understand project changes and improve decision-making in real-time.
- 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.
- 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.
