Rivian closes $2.5 billion funding round
JULY 23, 2021
JULY 23, 2021
Rivian 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,” said Rivian CEO RJ Scaringe. “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,” said Dan Sundheim, Founder of D1 Capital Partners.
Rivian has raised $10.5 billion since 2019.
In January, Rivian announced a $2.65 billion funding round led by funds and accounts advised by T. Rowe Price Associates, Inc.
In July, Rivian announced a $2.5 billion funding round led by funds and accounts advised by T. Rowe Price Associates, Inc.
In February, Rivian announced a $700 million funding round led by Amazon.
In April, Rivian announced that Ford Motor Company invested $500 million and that the companies would collaborate on a future program.
In September, Cox Automotive announced its $350 million investment in Rivian, complemented by plans to collaborate on logistics and service.
In late September, Rivian announced it was developing a custom electric delivery van for Amazon utilizing Rivian’s skateboard platform and that 100,000 of these vans had been ordered with customer deliveries starting in 2021.
In December, Rivian closed an investment round of $1.3 billion. The financing was led by funds and accounts advised by T. Rowe Price Associates, Inc. with additional participation from Amazon, Ford Motor Company and funds managed by BlackRock.
Rivian has developed and vertically integrated a connected electric platform that can be flexibly applied to a range of applications, including the company’s adventure products as well as B2B products such as the Amazon last mile delivery vans. The company’s launch products, the R1T and R1S, provide an unmatched combination of performance, off-road capability and utility. These vehicles will be produced at Rivian’s manufacturing plant in Normal, Ill., with customer deliveries expected to begin in fall 2021. Learn more about our company, products and careers at rivian.com.