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Amazon-backed Rivian raises $2 5B funding round - Puget Sound Business Journal
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The Station: Rivian adds to its EV war chest, Sec Buttigieg is coming to Disrupt and Argo preps to launch with Lyft – TechCrunch
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Rivian closes another $2.5B funding round led by Amazon, Ford & D1 Capital
Rivian announces another funding round of $2.5 billion, which brings a grand total of $10.5 billion funding to date. The private funding was led by Amazon’s Climate Pledge Fund, Ford Motor Company, and D1 Capital partners. Where accounts were advised by T. Rowe Price Associates Inc.
Image credits- Tech Crunch
The second round of investment in 2021 included funding from Dragoneer Investment Group, Fidelity Management, Third Point, and Research and Coatue. As their delivery date is coming up, they are pushing for more. Recently Rivian announced their plan to have another manufacturing plant. Multiple states in the US are known to have submitted bids for the facility, known as “Project Tera”. Rivian’s current manufacturing plant is in Normal, Illinois.
EV developer Rivian closes $2 5B funding round; raised $10 5B in total since 2019
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Amazon leads $2.5B funding round in Rivian, maker of the tech giant’s future electric delivery vans
July 23, 2021 at 4:01 pm
Rivian is building electric delivery vans for Amazon. (Amazon Photo)
Amazon is pouring more money into Rivian, as the electric vehicle maker announced Friday that the tech giant was among lead investors in a $2.5 billion financing round.
Amazon made the investment through its Climate Pledge Fund, which is aimed at backing companies that accelerate Amazon’s pledge to be net zero carbon across its businesses by 2040. The company previously backed Rivian in 2019 in rounds of $700 million and $1.3 billion, and it’s planning to buy 100,000 electric vans from the automaker for its delivery fleet.