© Rivian Electronics Production | July 26, 2021
Rivian closes $2.5 billion funding round
The electric car company announces that it has closed a $2.5 billion private funding round. The financing was led by Amazon’s Climate Pledge Fund, D1 Capital Partners, Ford Motor Company and funds and accounts advised by T. Rowe Price Associates, Inc.
This round included participation by Third Point, Fidelity Management and Research Company, Dragoneer Investment Group, and Coatue. “As we near the start of vehicle production, it’s vital that we keep looking forward and pushing through to Rivian’s next phase of growth,” says Rivian CEO RJ Scaringe in a press release. “This infusion of funds from trusted partners allows Rivian to scale new vehicle programs, expand our domestic facility footprint, and fuel international product rollout.” “We are excited to increase our investment in Rivian as it reaches an inflection point in its commercialization and delivers what we believe will be exceptional products for customers,” adds Dan Sundheim, Founder of D1 Capital Partners. Rivian has raised USD 10.5 billion since 2019.