Rivian Closes $2.5B Funding Round

Irvine-based electric vehicle maker Rivian Automotive LLC said Friday it has closed a $2.5 billion funding round led by existing investors Amazon and Ford.

Rivian said it has raised about $10.5 billion to date.
“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,” Rivian founder and chief executive RJ Scaringe said in a statement today.
 
The statement said 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. The round included participation by Third Point, Fidelity Management and Research Company, Dragoneer Investment Group, and Coatue, according to Rivian.