Manufacturing accelerator Re:Build raises $2.1B to expand hard tech production

Re:Build, a Massachusetts-based manufacturing accelerator, has raised $2.1 billion in new funding to support the production of innovative hard tech products in the U.S., Manufacturing Dive reported.

The investment round was led by General Catalyst and JPMorgan Chase’s Strategic Investment Group and aims to launch new industrial startups and scale production, which Re:Build said will create a surge of U.S. manufacturing jobs.

Re:Build has raised over $4 billion to date and plans to use the new capital to grow in sectors including aerospace and defense, electrification, medical, energy and environment, and robotics and automation.

Jeff Wilke, Re:Build’s Co-Executive Chairman and Co-Founder, said the accelerator was founded to address economic and national security risks caused by deindustrialization in America, and the funding will help accelerate their growth and leadership in manufacturing.

Currently, Re:Build employs more than 2,100 people and operates over 2.4 million square feet of advanced manufacturing space, partnering with companies to design, engineer, and manufacture products as well as incubate startups.

In related industry news, Hyundai Translead announced it will increase its investment in two Illinois advanced manufacturing facilities to $600 million, expanding its job commitment to 3,750 full-time positions, up from an earlier plan for 2,500 jobs.

Other companies including Honeywell Aerospace, Bracco, and Gradian also announced facility investments in Illinois, Arizona, North Carolina, and Minnesota this week.