Katerra Raises $865 Million As It Redefines The Construction Industry

by | Feb 2, 2018 | News

Katerra, a technology company redefining the construction industry, recently announced an $865 million Series D funding round led by the SoftBank Vision Fund. The financing will be used to fund Katerra’s continued manufacturing expansion and for further investment in its R&D efforts.

“The construction industry is ripe for digital disruption” said Michael Marks, chairman and co-founder of Katerra. “Katerra leverages its own software platform to remove time and costs from building development and construction. This new round of funding will enable us to further invest in R&D and continue to scale the business.”

Founded in 2015, Katerra has already accomplished the following in less than three years:

• Accumulated more than $1.3 billion in bookings for new construction, spanning the multi-family, student and senior housing, and hospitality sectors
• Amassed a global team of more than 1,300 people, attracting senior leadership and talent from groundbreaking technology brands such as Apple, Google, HP, Nokia, Sandisk, and Flextronics
• Opened a fully operational manufacturing facility in Phoenix, AZ with a roadmap in place for multiple additional domestic factories, including breaking ground on a mass timber factory in Spokane, WA.

“The $12 trillion construction industry is extremely fragmented with tens of thousands of companies using minimal levels of technology. While labor-productivity growth has skyrocketed in the overall global economy, the construction industry has averaged only 1% annual productivity growth over the past two decades,” said Jeffrey Housenbold, managing partner for SoftBank Investment Advisers.

Read more on this from Forest Business Network at https://www.forestbusinessnetwork.com/79294/katerra-raises-865m-as-it-redefines-the-construction-industry/.

Engineered Wood Market To Reach $41.3 Billion Globally By 2022

by | Feb 10, 2017 | News

A new report from market research firm Allied Market Research (AMR) projects that the global engineered wood market is estimated to reach $41.273 billion by 2022, growing at a compound annual growth rate (CAGR) of 24.8 percent from 2016 – 2022. North America and Europe, being the developed markets, account for nearly 70 percent of global engineered wood production, while still maintaining high CAGRs.

Engineered wood demand is expected to remain high during the forecast period as it is an alternative to concrete and hardwood. Engineered wood products are widely used by architects, builders, code officials, and building designers aware of energy-efficient framing practices that conserve energy, speed-up construction, cut labor cost, and reduce waste.

“The rising popularity of engineered wood over hardwood is attributable to its cost-effectiveness and eco-friendly aspect,” says AMR research analyst Yogiata Sharma. “Also, stringent regulations with regards CO2 emission and rapid deforestation are factors likely to propel the adoption of engineered wood. Despite the reservations, surrounding its usage due to safety concerns, composite wood has proved to be a huge commercial success.”

The market is expected to move at a higher pace in Europe and North America, owing to high disposable income and widespread awareness of the benefits of engineered wood among the populace. The engineered wood industry in Europe will be driven by the rise in demand for engineered timber, substantial use of resources, and increased import of raw wood from Asia-Pacific and LAMEA.

From Woodworking Network: https://www.woodworkingnetwork.com/news/almanac-market-data/engineered-wood-market-reach-413-billion-globally-2022?ss=news,news,woodworking_industry_news,news,almanac_market_data,news,canadian_news