Rivian raises $ 2.5 billion before launch of electric pickup and SUV

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The start-up EV Rivian has raised $ 2.5 billion, bringing its total funding to date to around $ 6 billion before the launch of its all-electric van and SUV in early 2021. 5.35 billion dollars have been invested in the past year and a half alone, with Rivian recouping large investments from Ford, Amazon and Cox Automotive in 2019.

The new funding comes from Soros Fund Management LLC, Coatue (a hedge fund), Fidelity Management and Research Company and the investment company Baron Capital Group. Amazon and another previous investor, BlackRock, also participated in the funding cycle, advised by T. Rowe Price.

The massive influx of money helps strengthen Rivian’s position as probably the best capitalized EV startup in the world. It will also boost the company’s massive growth, as it has already opened half a dozen offices in the United States and outside the United States and has hired approximately 2,400 people.

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