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Banks

Japan's SoftBank to lead $700 million funding in U.S. startup Katerra: The Information

The logo of SoftBank Group Corp is displayed at SoftBank World 2017 conference in Tokyo, Japan, July 20, 2017. REUTERS/Issei Kato

(Reuters) - Japan's SoftBank Corp 9984.T plans to lead another investment round in Katerra that would value the California-based construction company at more than $4 billion, the Information reported on Monday.

The $700 million investment will be led by SoftBank’s Vision Fund and will pull Katerra’s total equity capital past $2 billion, the Information reported, citing people familiar with the matter.

Katerra declined to comment on the matter, while SoftBank was not immediately available to comment.

SoftBank’s technology-focused Vision Fund has multi-billion-dollar investments in U.S. companies, including WeWork and Uber.

Last year, SoftBank had also led Katerra’s $850 million Series D round of financing.

Reporting by Mekhla Raina in Bengaluru; Editing by Gopakumar Warrier

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