Last Words
“We’re not a construction company. We’re a tech company.”
Raised
$2 billion — burned through like drywall in a bonfire
Cause of Death
Promised to disrupt construction. Ended up disrupting… construction sites.
Notable twist
Raised $2B. Bought factories. Flew private jets. Filed for bankruptcy.
Details
Katerra set out to revolutionize construction with a bold, Silicon Valley approach — vertically integrated prefab buildings, factory-built components, and software-managed processes. Backed by SoftBank’s Vision Fund, it raised around $2B and grew fast. Too fast. Projects stalled, quality slipped, and the company spent lavishly before proving its model. Leadership missteps and opaque finances didn’t help. When a lifeline funding deal collapsed, Katerra filed for bankruptcy, leaving behind unfinished buildings and unpaid vendors. Its death was one of SoftBank’s most expensive wake-up calls.
Pitch: “Rebuilding construction from the ground up.”
