Re:Build secures $2.1 billion to expand advanced manufacturing and create U.S. jobs
Re:Build announced $2.1 billion in new capital led by General Catalyst and JPMorganChase's Strategic Investment Group to expand its U.S. advanced-manufacturing platform and support new industrial companies. The company says the funding will increase its capacity to design and manufacture complex products across aerospace and defense, electrification, medical technology, energy and environmental systems, robotics and automation. Re:Build currently employs more than 2,100 people in the United States and operates over 2.4 million square feet of manufacturing capacity. Its stated long-term ambition is to help create tens of thousands of U.S.-based jobs over the next decade, although the announcement does not provide a near-term hiring quota, site-by-site plan or timetable for those positions. The company works from early product design through scaled production using its Manufacturing Constrained Design approach and also incubates businesses such as Slate, Neon Aero and Ensorcell. Re:Build says its founding team has now raised more than $4 billion in total, giving the long-term holding company capital to finance expansion and launch additional industrial ventures.
Read analysis ↗