SoftBank's Katerra Dogged By Reports Of Project Pull-Outs, Cost Overruns

A SoftBank-backed real estate startup with a broad vision has reportedly backed out of several deals this year — but its name isn't WeWork. Katerra, a Menlo Park-based prefab construction startup valued at over $4B, has stopped work on at least six projects this year, according to The Information, and is raising eyebrows among CRE sources Bisnow spoke to recently. Consistent with the other startups in SoftBank's Vision Fund, Katerra has received hundreds of millions of dollars in funding from its Japanese multinational backer based on its ambitious, tech-driven value proposition.