Re:Build, the Massachusetts based manufacturing accelerator that spun out electric vehicle startup Slate Auto in 2023, has raised $2.1 billion, the company said on Tuesday. The financing was led by General Catalyst and JPMorganChase’s Strategic Investment Group; other investors were not disclosed.
Re:Build said it will use the funding to expand its capacity to manufacture hard tech products and launch new industrial startups. Founded in 2020 and based in Framingham, the company designs and manufactures products across aerospace and defence, electrification, medical, energy and robotics, and its ecosystem employs more than 2,100 people across more than 2.4 million square feet of advanced manufacturing capacity. Its founding team has now raised more than $4 billion to date, and General Catalyst first invested in 2024, including a recent $120 million commitment.
“We started Re:Build because the deindustrialization of America is an economic failure and national security risk,” co-founder Jeff Wilke said in a statement. General Catalyst chief executive Hemant Taneja said rebuilding American industrial capacity is one of the most important economic and national security imperatives of the time, and that competing with China requires platform companies able to operate at genuine scale.
The round is structured as growth capital for an operating platform rather than a conventional fund: Re:Build both manufactures for established industrial companies and incubates new businesses, so the $2.1 billion funds plant, equipment and startup formation inside one balance sheet.