CCIV - Electric vehicle maker Rivian raises $2.5b in latest funding round

Phillip Faraone/Getty Images Entertainment Amazon-linked EV startup Rivian (RIVN) raised $2.5B in its latest funding round amid reports of plans for an IPO. The financing was led by Amazon’s Climate Pledge Fund, D1 Capital Partners, Ford Motor Co. (F) and funds and accounts advised by T. Rowe Price, according to a statement. The funding round included participation by Third Point, Fidelity Management, Dragoneer Investment Group, and Coatue Rivian has raised roughly $10.5 billion to date. In January, Rivian announced it raised $2.65B funding round led by funds and accounts advised by T. Rowe Price. The latest funding round comes after a report in late May that the EV startup was pushing ahead with plans to go public by picking underwriters for the IPO process. Yesterday, Rivian confirms plans for second U.S. plant.

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Electric vehicle maker Rivian raises $2.5b in latest funding round