Rivian has closed an investment round of $2.5 billion. The financing was led by funds and accounts advised by T. Rowe Price Associates, Inc.
Participants in this investment round include Soros Fund Management LLC, Coatue, Fidelity Management and Research Company, and Baron Capital Group. Existing shareholders Amazon and funds managed by BlackRock also participated.
No new board seats have been added, and additional details about this investment are not being disclosed at this time.
The investment announcement is Rivian’s first in 2020.
– 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 an electric delivery van for Amazon utilizing Rivian’s skateboard platform and that 100,000 of these vans had been ordered with 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.