April Fools’ season is here! This can only mean one thing: The first quarter of 2025 is officially in the books. If you’re wondering what went down during the first few (definitely not quiet) months of the year, we’ve got you covered.
In this quick-read article, we’re breaking down the latest investment moves across Contech and Cleantech that have been applied to the built environment. With the construction industry in the thick of a digital and sustainable transformation, the Cemex Ventures investment team has rounded up the key trends and insights from January to March.
So, let’s take a look at Q1!
Table of Contents
Q1 2025 Summary
In the first quarter of 2025, the total investment volume reached US$1.39 billion across 99 deals. Compared to Q1 2024, this represents a 41% increase in the number of transactions—despite prevailing uncertainty, Q1 has performed well relative to the same period last year. That said, it will be important to assess the impact of broader macroeconomic and geopolitical uncertainty as the year progresses.
- Total investment: $1.39Bn
- Total number of deals: 99
Investment by Focus Area
Construction technologies are at the forefront of transforming the way we build. In Q1 2025, Cemex Ventures’ investment strategy was focused on 4 key market-driven opportunities. Here’s how the investment was distributed across these transformative areas:
- Green Construction (GC): 36%
- Construction Supply Chain (CSC): 19%
- Enhanced Productivity (EP): 33%
- Future of Construction (FC): 12%
The biggest shift compared to Q1 2024 came from Construction Supply Chain solutions, which jumped from capturing just 8% of total investment to an impressive 19%. Meanwhile, Future of Construction technologies also gained momentum, nearly doubling their investment volume year over year.
In terms of the amount of money invested (%), Green Construction (36%) was the most active Focus Area, encompassing solutions related to decarbonization, Carbon Capture, Utilization and Storage (CCUS), circular business models, sustainable materials, water conservation, etc. Following very closely behind was investment in Enhanced Productivity (33%), which includes solutions such as project design and budgeting, geotechnical analysis, project bidding, and document management, among other solutions that improve construction efficiency.
Investment by Region
Continuing the trends from 2024 & 2023, most of Contech & Cleantech investments – almost 50% – in the first quarter were concentrated in the United States. However, we saw a significant increase in capital deployed across Europe and the Asia Pacific (APAC) regions compared to Q1 2024. For more information about last year’s investment by region, download the Top 50 Contech Startups Report 2025.
- North America: 49%
- Europe: 32%
- APAC: 12%
- Middle East: 4%
- LATAM: 2%
- Africa: 0%
The top countries by investment amount in Q1 were the United States, India, Germany, and France, solidifying their position as the most active markets in innovative construction technologies.
- Fun fact: 5 of the 6 largest deals in Q1 have been concentrated in the US
Top Deals Q1
Cemex Ventures’ investment team compiles a monthly roundup of the most significant deals within the Contech & Cleantech ecosystem. Below are the top three transactions from Q1, reflecting key developments in these sectors:
- Brimstone received $189M in grant – US: In January, Brimstone finalized an up to US$189M federal award for an efficient and sustainable Rock Refinery that co-produces Portland cement and alumina from US-sourced rocks. Read more!
- Infra.Market closed $125M in Series F funding – India: In January, the building materials platform Infra.Market rose around US$125M in its Series F funding round. This followed the completion of the final tranche of its Series E round in September 2024. Read more!
- Terra CO2 secured $82M in Series B funding – US: In February, the leading US-based low-carbon building materials company secured US$82M in Series B equity commitments from a mix of financial and strategic investors. Read more!
- ICON closed $56M in Series C funding – US: In February, the pioneer in the 3D printing of homes closed US$56M in Series C funding co-led by Norwest Venture Partners and Tiger Global. Read more!
- BuildOps raised $127M in Series C funding – US: In March, the AI-powered platform that simplifies project management and service for commercial contractors announced that it raised US$127M in new funding, raising its valuation to US$1Bn. Read more!
- Zeitview announced a capital raise of $60M – US: In March, Zeitview, the leader in visual AI for critical infrastructure, announced a capital raise of US$60M led by Climate Investment, with participation from current investors Valor Equity Partners, among others. Read more!
Key conclusions from Cemex Ventures’ Investment Experts
Wrapping up, here are the key takeaways from the investment experts at Cemex Ventures:
- Although the global macroeconomic uncertainty, there has been a significant increase in investment activity compared to the same period in 2024.
- Early-stage rounds (Pre-Seed, Seed & Series A) still dominate the investment activity; however, there has been a slight increase in late-stage rounds (Series B & C). There is still some confidence in a few mature and stablished solutions.
- In terms of focus areas, Green Construction and Enhanced Productivity lead with nearly 70% of the transactions registered. A significant change compared to Q1 2024 is the considerable increase in capital invested in Construction Supply Chain technologies.
- Regarding regions, North America notably predominates, followed by Europe.
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 and X.
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