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SoftBank backs construction tech startup Katerra

SoftBank founder Masa Son
SoftBank CEO Masayoshi Son. Photo by Alessandro Di Ciommo/Getty Images

Silicon Valley construction-tech company Katerra has raised $865 million in new funding led by SoftBank, at a valuation north of $3 billion.

Bottom line: Katerra chairman and co-founder Michael Marks, who previously led Flex, says that the giant raise will help reassure large customers that the company is here to stay, despite having raised $130 million just last April. Marks also says that Katerra will become profitable next year.