Construction startup Katerra Inc. is shutting down, according to a person familiar with the matter, a dramatic collapse for a company that raised about $2 billion from investors including SoftBank Group Corp.

Katerra, founded in 2015, had promised to shake up the construction industry with its efficient factories, prefab parts and modular construction units. The company has said it was working in countries including the U.S., India and Saudi Arabia. In February of last year, Katerra’s marketing materials touted 8,000 employees across the globe.

With major cash infusions from SoftBank and others, Katerra grew quickly, in part by acquiring smaller construction companies. But integrating those businesses proved difficult, and the company was forced to deal with construction delays and issues in trying to perfect its modules. The person who described Katerra’s closing asked not to be identified because the information is private.

In 2019, Katerra said it would cut 200 jobs, even after raising $865 million from investors the previous year. The company also shut down a factory in Phoenix, with the intention of focusing on a more highly automated facility in California.

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