Rivian Raises Another $2.5B, Pushing Its EV War Chest Up To $10.5B
- ByStartupStory | July 24, 2021
Rivian announced that it has completed a $2.5 billion private funding round led by funds and accounts advised by RowePrice Associates Inc. at Amazon’s Climate Pledge Fund, D1 Capital Partners, Ford Motor, and T. According to Rivian, Third Point, Fidelity Management and Research Company, Dragonia Investment Group and Courteau also took participation in the round. As we approach the start of vehicle production, it is important to look forward to and drive Rivian’s next stage of growth,” Rivian CEO RJ Scaringe said in a statement. Vehicle programs, expanding the footprint of domestic facilities, and promoting international product development. “
Dan Sundheim, founder of D1 Capital Partners, said the company is looking forward to “providing what it believes its investment in Rivian will reach a turning point in commercialization and be a great product for its customers.” rice field. Rivian has raised about $ 10.5 billion so far. The company did not share a post-monetary valuation. The electric car maker that currently has 7,000 employees and is preparing to deliver the R1T pickup truck in September, finally raised money in January. The round brought $ 2.65 billion from existing investors T. Rowe Price Associates Inc., Fidelity Management and Research Company, Amazon’s Climate Pledge Fund, Coatue, and D1 Capital Partners. New investors also participated in the round Rivian is valued at $27.6 billion.
This news arrives the day after Rivian confirms that he is planning to: Opening a second factory in the United States. It will also follow Rivian’s decision to postpone delivery of R1T trucks and R1S SUVs from this summer to September due to production delays due to a “pandemic chain of influences”, especially due to a global shortage of semiconductor chips.
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