Rivian races ahead of other EV startups with $1.3 billion in new funding
Image: Rivian
Michigan-based EV startup Rivian has announced a massive new $1.3 billion financing round led by T. Rowe Price — one that includes existing investors like Amazon and Ford. It’s the fourth time Rivian has raised money this year, following an Amazon-led $700 million raise in February, a $500 million investment from Ford in April, and $350 million from Cox Automotive in September — despite a market that is shying away from big investments in startups for a number of reasons.
The new money puts Rivian at over $3 billion in total funding since it was founded in 2009, meaning it’s now comfortably ahead of all the other US-based electric vehicle startups that have tried to follow in Tesla’s wake. Add in the commercial partnerships Rivian...
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