Katerra stumbles as it expands overseas


Katerra has failed to complete roughly a dozen projects and could only name one that was delivered on time. All the while, logistical and technology-based issues have chipped away at the company’s image as a revolutionary tech startup. Some clients have ended their relationship with the firm. Other clients, however, are tied to Katerra’s executives, and have drummed up business for the company—a similar arrangement used by WeWork executives, which became a concern for some investors



The Real Deal takes an investigative look at some of the recent business dealings and project announcements from Katerra. The vertically integrated construction and modular building components start-up is facing renewed media and financial scrutiny following the recently announced closure of its first fabrication plant in Phoenix, Arizona. Katerra recently opened a new 270,000-square-foot CLT factory in Spokane, Washington.

The company also recently expanded its project offerings in Saudi Arabia and India, the former of which is the biggest backer of Japanese technology start-up investor Softbank’s Vision Fund, a financial vehicle that backed WeWork, Compass, and Uber, three highly valued ventures that all stumbled in 2019.

Antonio Pacheco via Archinect - News http://bit.ly/3501UGv

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