“Every day is a fire drill”: Construction startup Katerra struggles to stay on track as it scales up Company facing problems with delays and quality control
The Katerra factory in Phoenix and Katerra s CEO Michael Marks (Credit: Katerra)
Construction startup Katerra — valued at $3 billion following an $865 million funding round in January including SoftBank — is struggling with delays and quality control as the company tries to scale up.
Many in the real estate industry are paying close attention to the three-year-old company, which aims to cut costs by streamlining the construction supply chain.
But the company’s faced challenges such as scaling up automation at its flagship factory in Arizona, which had to be shut down soon after it opened because it lacked proper building permits, the Information reported.