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Is building an ecosystem the way forward for construction tech startups in LatAm?
Argentine construction tech startup Nuqlea recently raised a $750,000 extension round led by construction-focused VC firm Foundamental.
For context, construction tech startups raised around $3 billion from 236 deals last year, but only 2.5% of this funding went to Latin American companies, Cemex Ventures reported. Construction tech may have less-obvious impact than the large scale food-aid program he led during the pandemic, but it is still top of mind for the CEO, who is proud of Nuqlea’s involvement in building social housing. But more generally, he thinks that bringing digital transformation to construction is a boon for society as a whole “because the cost of inefficiency in the traditional value chain ends up being paid by the consumer.”
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