Massachusetts‑based manufacturing accelerator Re:Build, the parent of EV venture Slate Auto, announced on Tuesday that it has secured $2.1 billion in new capital. The company said the money will be used to expand its ability to produce hard‑tech products and to launch additional industrial startups, with the goal of keeping the most innovative manufacturing in the United States for generations. The round was led by General Catalyst and JPMorgan Chase’s Strategic Investment Group, while other investors were not disclosed.
The infusion arrives as investors increasingly focus on strengthening U.S. manufacturing and supply chains as a hedge against reliance on China. “We started Re:Build because the deindustrialization of America is an economic failure and national security risk,” co‑founder Jeff Wilke said in a statement. “This capital allows Re:Build to go faster and further than would otherwise be possible, and to 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.”
General Catalyst chief executive Hemant Taneja echoed that view, noting, “General Catalyst has long believed that rebuilding American industrial capacity is one of the most important economic and national security imperatives of our time.” He 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.”
Founded in 2020, Re:Build describes itself as “America’s answer to Shenzhen” and maintains strong ties to Amazon. Wilke, a former Amazon commercial CEO, co‑founded the firm, and longtime Amazon veteran Wei Gao, who previously advised Jeff Bezos, serves as chief digital and product officer. Several other senior Re:Build executives also come from the e‑commerce giant.
Re:Build says it has launched hundreds of products and production systems over its six‑year history. It operates in two main ways: partnering with established industrial firms to design, engineer and manufacture products at scale across sectors such as aerospace and defense, and incubating startups that address critical, underserved markets. The company’s network now employs more than 2,100 people in the United States and controls over 2.4 million square feet of manufacturing space.
Wilke and co‑founder Miles Arnone originally conceived Slate Auto in 2022 and chose to spin it out to attract additional funding. Slate Auto has since raised at least $1.4 billion, including investment from Jeff Bezos’s family office, to develop an ultra‑low‑cost, stripped‑down pickup truck that can be customized to individual customer preferences.