The company said Tuesday that it will use the funding to “expand Re:Build’s capacity to manufacture hard tech products and launch new industrial startups,” which will “ensure the most innovative products can be made in America for generations to come.” The investment was led by General Catalyst and JPMorganChase’s Strategic Investment Group. Other investors weren’t disclosed.
The funding round comes as increasing attention and capital is flowing to the idea of building up manufacturing and supply chains in the United States, especially as a hedge away from China.
“We started Re:Build because the deindustrialization of America is an economic failure and national security risk,” Re:Build co-founder Jeff Wilke said in a statement. “This capital allows Re:Build to go faster and further than would otherwise be possible, and build a great manufacturing business and a platform for American industrial leadership. The products and companies emerging from our ecosystem prove we can help restore America’s industrial might.”
