EV start-up Rivian raises $2.65 billion in new funding round led by T. Rowe Price

Rivian R1S electric SUV

Supply: Rivian

Rivian, the electrical vehicle open-up backed by Amazon and Ford Motor, on Tuesday said it closed on a $2.65 billion investment round led by T. Rowe Tag funds as the firm moves closer to manufacturing of an all-electric pickup and SUV.

The firm has raised about $8 billion since 2019. Rivian closed on a $2.5 billion investment round last year, also led by T. Rowe Tag; a $1.3 billion funding round in December 2019; and had raised no lower than $1.5 billion sooner than that.

Other participants within the round integrated Constancy, Amazon’s Local climate Pledge Fund, Coatue and D1 Capital Partners as properly as several other existing and contemporary merchants, in accordance to the firm.