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Publish Date : 27-Jan-2016

The Silicon Valley startup Katerra has reportedly secured an investment of US$51 million from the Foxconn Electronics subsidiary Icreate Investments.

Icreate Investments, the investment division of Foxconn, has made this investment in Katerra to acquire a stake of 10.7% in the US-based provider of smart building solutions.

Katerra serves the construction sector with the delivery of product design and sourcing, procurement and supply-chain, logistics, and customer services to the construction industry.

The company operates its US offices in Menlo Park (California) and Scottsdale (Arizona) in addition to the overseas branch at Shenzhen in China.

The latest investment has facilitated the parent firm of Icreate Investments to take another forward step in its presence across the sectors of IoT and smart building sector.

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