SoftBank Vision Fund is leading another out-sized equity funding round, this time pouring $865 million into Katerra, a high-tech construction company.
Just three years old, Katerra was co-founded by Chairman Michael Marks, who was previously the CEO of Flextronics and the interim CEO of Tesla, along with Fritz H. Wolff, the executive chairman of real estate investors The Wolff Co.
Katerra now has 1,300 employees, including 100 architects, and makes buildings in factories, essentially.
As Marks elaborated, "We bring massive amounts of tech to construction. We have our own factories to make the components. We make sub-assemblies there, bring them to a site, move them around on trucks and conveyors and bring the buildings to life. There's no handoff. We do everything."