Cemex issued the following announcement on July 24.
Concrete Sensors, an Internet of Things company focused on construction, uses real-time data from wireless sensors, enabling the most accurate solution to accelerate schedules.
This is CEMEX Ventures’ first investment in smart concrete technology, which enables customers to save money and reduce schedules by weeks, all while improving quality.
CEMEX Ventures announced today an investment in Concrete Sensors, a U.S.-based startup that enables contractors to accelerate their schedules through accurate real-time monitoring of temperature, relative humidity, and strength with any mix design of concrete.
Concrete Sensors, an Internet of Things company focused on construction, uses embedded wireless sensors, combined with a mobile app, to supply the data needed to make critical decisions with a high degree of accuracy. The combination of data and in-house concrete lab calibration enables their customers to save money and reduce schedules by weeks, all while improving quality.
This solution represents a major breakthrough in the construction industry, allowing teams to not only avoid schedule delays, but also optimize their workflow. Every concrete pour is unique, making management difficult and increasing a project’s risk. After concrete pouring, installed on-site sensors are automatically activated to immediately analyze the concrete, ensure quality, and create efficiency. Sensors continually collect data, reporting on performance and alerting contractors of issues before they happen.
Concrete Sensors’ solution has already been used by some of the largest and most sophisticated contractors such as Turner Construction Company and Skanska. This user-friendly solution has caught the interest of CEMEX Ventures, Requus Ventures, and Arab Angels Fund, which have partnered in this investment. All share a common vision with Concrete Sensors of focusing on the market potential of actionable insights, high accuracy, superior customer service, and a deep understanding of the construction industry.
CEMEX Ventures has become a strong lever for growth by facilitating relationships between Concrete Sensors and strategic players in the construction market. “We decided to invest in Concrete Sensors because it is a startup that offers solutions to a broad range of challenges in construction. It brings added value to CEMEX customers by exploiting our product benefits and saving costs,” said Gonzalo Galindo, CEO of CEMEX Ventures.
“Requus Ventures is a strategic investor with global reach and targets investments in the construction and real estate space, such as Concrete Sensors. These can offer their customers cost and time savings, quality improvement and can easily be scaled globally. Concrete Sensors has a great team and offers a simple and scalable IoT solution for the large and antiquated construction industry. We are excited to have Concrete Sensors as a portfolio company and look forward to supporting their future success,” said Dino Antzoulis, Managing Director, Requus Ventures.
Omar Darwazah, General Partner at Arab Angel Fund said: “We are excited to add Concrete Sensors to the fund’s portfolio and invest alongside CEMEX Ventures and Requus Ventures. Concrete Sensors’ IoT solution for the construction sector offers an effective response to the industry’s pervasive challenges and delivers customer cost and time savings and overall quality improvement. We look forward to helping the company explore business development and commercial opportunities in the MENA region and capitalize on the infrastructure and construction spending boom in the GCC.”
Launched in 2017, CEMEX Ventures focuses on helping to 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.
Requus Ventures was formed in 2017 with a mandate to invest in disruptive real estate and construction technology start-ups that are focused on generating cost savings and optimizing operating efficiencies for developers, owners and asset managers of real estate globally. For more information on Requus Ventures, please visit: http://requus.com/investment-strategies/venture-capital/.
Arab Angel Fund (AAF) is an early stage venture capital firm focused on Seed and Series A investment opportunities with companies that have international expansion potential. It provides unprecedented access to brilliant entrepreneurs seeking to enter the Gulf Cooperation Council (GCC), the larger Middle East & North Africa (MENA) regions and Western Asia markets. The fund currently has 70 portfolio companies across a number of different sectors in North America. To know more about Arab Angel Fund, please visit: http://arabangel.vc/.
Original source can be found here.
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