Rivian Reportedly Close To $25-Billion Valuation After New Round Of Funding

The company refused to comment on the matter, but it did not deny the rumor.

Rivian is definitely one of the electric vehicle startups that has received the most funding, compared to other similar fledgling automakers. So far it has seen investment from Ford, Amazon, T. Rowe Price Group Inc., BlackRock Inc., Soros Fund Management, Coatue, Fidelity Investments and Baron Capital Group and raised most of the money it needs to kickstart production of its first models, the R1S and R1T.

Now Bloomberg reports (citing unnamed sources with knowledge on the matter) that Rivian is close to raising even more money, boosting its valuation to around $25-billion. Back towards the start of 2020, Rivian was valued at about $8-billion, so reaching nearly three times that less than a year later is definitely a feat for any new company. So far, Rivian has raised an estimated $6-billion from all its backers.

When the publication reached out to Rivian for a statement on this topic, the manufacturer neither acknowledged nor denied the claim, stating that

‘ We are focused on delivering the R1T, R1S, and Amazon delivery vehicles in 2021. We often speak to investors, and we have no announcement to make at this time. ‘

If this all turns out to be true, Rivian will surely make an official statement announcing it. Right now, the manufacturer is gearing up to begin deliveries of its first ever vehicles. The first to reach customers will be the R1T all-electric pickup (deliveries expected to start in June of this year), closely followed by the R1S electric SUV which should start reaching customers a few months after.

Source:Bloomberg

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