Re:Build Raises $2.1B to Expand U.S. Manufacturing, Backed by General Catalyst and JPMorganChase

Re:Build, the Massachusetts-based manufacturing accelerator that spun out EV startup Slate Auto in 2023, said Tuesday it has raised $2.1 billion to expand its capacity to manufacture hard tech products and launch new industrial startups. The round was led by General Catalyst and JPMorganChase's Strategic Investment Group; other investors were not disclosed. The funding comes as capital flows toward rebuilding U.S. manufacturing and supply chains as a hedge away from China. Re:Build was founded in 2020 by former Amazon commercial CEO Jeff Wilke and Miles Arnone, and its executive ranks include several other Amazon veterans. The company says it operates through partnerships with industrial firms across aerospace and defense and through incubating startups in underserved markets. Re:Build says its network employs more than 2,100 people in the U.S. and houses over 2.4 million square feet of manufacturing capacity. Wilke and Arnone conceived Slate Auto in 2022 and spun it out to attract more capital; Slate has since raised at least $1.4 billion, including from Jeff Bezos' family office, to build a low-cost, customizable pickup truck.