Katerra, a self-described end-to-end provider of building services that is valued at over $3 billion, today announced plans to open a new advanced manufacturing factory in Tracy, California. The factory is expected to begin production in 2019 and to employ 500 people.
Founded in 2015, Menlo Park-based Katerra most recently raised an $865 million round of financing in January, led by SoftBank’s Vision Fund. Other investors include Foxconn and DFJ.
The company’s goal is to make the building construction process cheaper and more efficient by handling everything from the architectural design of the building to the construction of walls to the installation of appliances, eliminating the need for subcontractors. In order to fulfill this vision, Katerra needs its own domestic factories. In addition to the soon-to-be opened Tracy factory, Katerra has a facility in Phoenix that employs 300 people. The company also announced in September that it is opening a mass timber production facility in Spokane, Washington that will eventually employ 150 people.