Re:Build Raises $2.1 Billion to Expand Advanced Manufacturing in America

Re:Build Manufacturing raised $2.1 billion in a late-stage funding round led by General Catalyst and JPMorgan Chase’s Strategic Investment Group, without disclosing the company's valuation. The company said the funds will be used to expand its capacity to manufacture advanced tech products and launch new industrial companies.

Re:Build was founded in 2020 by Jeff Wilke, former CEO of Worldwide Consumer at Amazon, and describes itself as "America's answer to Shenzhen." It focuses on aerospace, defense, electrification, healthcare, energy, and robotics, operating in two ways: partnering with industrial companies to design and produce products at scale, and incubating startups in critical markets.

Re:Build's network of subsidiaries employs over 2,100 people in the United States and possesses more than 2.4 million square feet of manufacturing capacity. In 2023, the company spun off electric vehicle maker Slate Auto, which has since raised at least $1.4 billion to build a low-cost pickup truck.

Wilke said the company was founded because the decline of manufacturing in America represents an economic failure and a national security risk, adding that the new capital will enable it to scale and build a platform for American industrial leadership. For his part, Hemant Taneja, CEO of General Catalyst, said rebuilding American industrial capacity is one of the most important economic and security priorities.

What Do These Terms Mean?

Late-stage funding round: A round raised after a company is capable of production and scaling, typically used to increase capacity or enter new markets rather than funding the initial idea.

Manufacturing capacity: The total space, equipment, and capability a company possesses to manufacture products, sometimes measured by footprint area or the number of units produced.

Spin-off company: A new company separated from a larger parent company to operate independently, which may raise its own funding and manage its operations autonomously.