‘Martian Concrete’ And More Innovations Come To Market As Funding For PropTech Surpasses $9 Billion In 2021
Venture capital funding reached $9.7 billion in the first six months of 2021. Surpassing last year’s half-year amount of $8.8 billion, this is the largest amount on record, according to a report recently published by JLL Spark, the venture capital fund affiliated with JLL, a global real estate services firm. The MIT Tech Tracker, from MIT’s Real Estate Innovation Lab, tracks the nearly 8,000 “proptech” firms around the world that serve everything from how people buy, sell and market properties to innovations in building materials and methods. This is where inventions such as Martian concrete have made waves as manufacturers looked for a way to construct buildings on Mars, where the lack of water supply makes it hard to manufacture concrete. Martian concrete will rely on sulfur which cures in much less time and is highly resistant to corrosion. Currently it is in use in non-structural applications here on Earth, according to the report.
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