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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. Katerra was listed on LinkedIn's "Top Startup Companies" to work for in 2017.
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.
Nov 24, 2021 · Here, Construction Dive talks with VBC CEO Vaughan Buckley to discuss why the company acquired Katerra's assets, how the company is positioning itself to mitigate supply chain issues and where...
- Sebastian Obando
- 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 1, 2021 · After burning through more than $2 billion in funding, SoftBank-backed construction startup Katerra has told employees that it will be shutting down operations, according to a report in The ...
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.
Jun 7, 2021 · Katerra, the US construction start-up backed by SoftBank’s Vision Fund, filed for bankruptcy with more than $1bn in liabilities, becoming the second leading company in the Japanese...
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