The round values the construction tech startup at more than $4 billion
SoftBank’s Vision Fund plans on leading another $700 million funding round for Katerra. The deal would value the construction-tech company at more than $4 billion, according to The Information.
What they do: Katerra helps build construction projects faster and at lower costs than traditional firms. Essentially, it’s a one-stop shop for getting a building up off the ground. The firm also sells home-renovation services to apartment owners, and building components (e.g. toilets and kitchen cabinets) to real estate and construction firms.
Clear leader in the space… With more than $2 billion in equity capital, fledgling startups will struggle to compete. The company’s revenue was reportedly north of $500 million last year and is expected to exceed $2 billion this year.
Worth Noting: Katerra’s co-founders also raised billions of dollars last year for a separate fund to invest in real estate projects built by the company.
Flashback: SoftBank led an $865 million investment in the startup last year at a $3 billion valuation.