Re:Build, which spun out Slate Auto, raises $2.1B

Re:Build, an accelerator based in Massachusetts that originated from EV startup Slate Auto in 2023, has successfully raised $2.1 billion in funding. The investment aims to bolster Re:Build's ability to manufacture advanced technology products and support the creation of new industrial startups. This move is designed to ensure that only the most innovative products can be produced in America for future generations.

The funding round was spearheaded by General Catalyst and the Strategic Investment Group at JPMorgan Chase. Specific details about the other investors involved in the round were not disclosed. The surge in capital and attention towards building up manufacturing and supply chains within the United States is a response to concerns about the nation's security and economic stability, particularly in contrast to China.

Re:Build co-founder Jeff Wilke explained in a statement that the company was founded due to the deindustrialization of America being considered an economic failure and a threat to national security. Wilke emphasized that the raised capital will enable Re:Build to accelerate its growth and establish itself as a significant player in American industrial leadership. He added, "The products and companies emerging from our ecosystem prove we can help restore America's industrial might."

General Catalyst CEO Hemant Taneja also shared similar views in a statement, stating that rebuilding American industrial capacity is crucial for maintaining a competitive edge against China and revitalizing the towns and jobs that have been neglected. Taneja added, "To compete with China, re-industrialize the U.S., and revitalize the towns and jobs that have been left behind, we need platform companies that can operate at genuine scale — and we need our innovation ecosystem to learn how to build hardware again."

Established in 2020, Re:Build positions itself as "America's answer to Shenzhen" and has close connections with Amazon. The company was co-founded by Jeff Wilke, a former commercial CEO at Amazon, and Wei Gao, a long-time Amazon VP and technical adviser to Bezos. Additionally, several other executives at Re:Build previously worked for the e-commerce giant.

Re:Build boasts of having launched hundreds of products and production systems during its six-year existence. The company often collaborates with industrial companies to design, engineer, and manufacture products on a large scale across various sectors, including aerospace and defense. Re:Build also incubates startups in critical, underserved markets. The network of companies associated with Re:Build employs over 2,100 people in the U.S. and operates within more than 2.4 million square feet of manufacturing space.