IPSUM is streamlining construction projects across Latin America. In a story originally reported by El Mercurio, this Chilean startup, which improves communication on construction teams to increase productivity, has reportedly won US$1M in a startup competition run by the venture capital arm of Mexican cement company Cemex: Cemex Ventures. Chilean fund, Manutara Ventures, also contributed to the round.
“These two new partners [Cemex Ventures and Manutara Ventures] joined our efforts, because I realized their help was complementary. In the case of Cemex, their support can help with our expansion, with business strategy, while Manutara is helping with team building and strategic planning,” explains [co-founder Franco] Giaquinto.
Founded in 2014, and with a 2017 in which, among other things, the company was chosen by CB Insights as one of 100 platforms that is revolutionizing construction worldwide, [IPSUM] has over 30 clients, in five countries, which has allowed them to be present on 80 construction projects at the same time.
Gianquinto states that IPSUM will use the fund to continue its international expansion, starting with a new office in Lima, and to improve its software.