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Number of employees. 7,500 (2018) [2] Website. katerra .com. Katerra was an American technology-driven off-site construction company. It was founded in 2015 by Michael Marks, former CEO of Flextronics and former Tesla interim CEO, along with Fritz Wolff, the executive chairman of The Wolff Co. [3] Katerra was listed on LinkedIn's "Top Startup ...
- Origin Story
- The Descent
- What Went Wrong
- The Future of Industrial Construction
- GeneratedCaptionsTabForHeroSec
Katerra was founded as a materials and hardware supplier in 2015. Instead of procuring lumber from one vendor, an HVAC system from another, and hardware from another, you could just head to Katerra. The company would manage the supply chain, ship directly from factories, and eliminate the middlemen. Daniel Hall attended an early pitch of Katerra, b...
By the time Katerra filed for bankruptcy, it was not only making design software, air conditioning systems, and windows, but also engaging in general contracting, architectural design, engineering, and project management. It even provided cleaning services. In many ways, its strategy was reminiscent of the 1940s and 1950s Total Design movement—the ...
In the press release announcing its bankruptcy, Katerra blamed its downfall on a range of things: the pandemic, its inability to raise more money, and the “unexpected insolvency” of a former lender (an apparent reference to Greensill, another SoftBank-funded company that Katerra had reliedon for financing and that had itself filed for bankruptcyin ...
Many in the AEC profession will cite Katerra as evidence for why industrial construction will never work—that people have been attempting to assemble buildings in factories for decades, without much success. And if Katerra’s $2 billion couldn’t crack it, what hope does anyone have? But Katerra didn’t fail because it entered the industrial construct...
The AEC startup failed to streamline building construction with modular design and supply-chain integration. Learn from its history, challenges, and lessons for the industry.
Jun 8, 2021 · Katerra, a construction startup backed by SoftBank and Greensill, filed for Chapter 11 bankruptcy in June 2021. The company blamed COVID-19, bonding issues and capital shortage for its financial troubles, but also faced the fallout of Greensill's insolvency.
Oct 13, 2021 · Katerra, a startup that aimed to revolutionize construction with vertical integration and mass manufacturing, failed to convince developers and builders to change their ways. The company spent billions of investor money, acquired several firms, and faced challenges from COVID-19 and Greensill's insolvency.
- Sebastian Obando
Jun 1, 2021 · Katerra, a company that aimed to cheaply build properties for real estate developers, has told employees it will be closing operations after raising more than $2 billion. The failure marks a major setback for SoftBank, which invested in Katerra amid the pandemic and the WeWork crisis.
Jun 29, 2021 · (2 min) Venture-backed startup Katerra Inc. aimed to revolutionize the construction business by mastering every element of the trade at once. Instead, its June bankruptcy filing made clear just...
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Nov 24, 2021 · The company purchased Katerra’s assets in Tracy, California, including its state-of-the-art manufacturing facility (shown above), for $21.25 million in August. VBC will use the facility to...
