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Katerra expanded quickly, winning jobs and executing projects, the filing new business stocks states, but lost money on many of those projects due to cost overruns. In particular, Liebman's filing states, a big source of the losses were promises to honor maximum price guarantees and discounts for certain legacy customers. TOKYO -- U.S. construction startup Katerra has filed for Chapter 11 bankruptcy protection in a setback for Japan's SoftBank Group, which invested more than $1 billion in the company. The Information news website reported earlier this month that Katerra had told employees it planned to shut down, marking the collapse of the SoftBank-backed company that had raised more than $2 billion to slash the cost of building apartments. The recent collapse of the Softbank-backed construction company Katerra is a pretty fascinating story, featuring just the sort of “Icarian” CEO that Sarah Kunst talked about, along with some questionable accounting practices. Cory Weinberg has been reporting on it at The Information. Katerra was founded in 2015 to disrupt the, as yet fairly undisrupted, construction industry. It promised to build and renovate apartment buildings faster and for less money, using innovations like mass timber, or engineered wood, and modular components, like roofs and walls built in automated factories.