Deals
Rivian Is Close to Raising Funds at $25 Billion Valuation
- Latest funding round could raise several billion dollars
- Rivian in race with Tesla to deliver electric-powered truck
Rivian is developing two battery-electric consumer cars designed to be capable in off-road terrain.
Photographer: Patrick T. Fallon/BloombergThis article is for subscribers only.
Rivian Automotive Inc., the electric-truck startup backed by Amazon.com Inc. and Ford Motor Co., is close to raising a new round of funding valuing it at about $25 billion, according to people familiar with the matter.
Several existing Rivian investors are participating in the round, which will raise several billion dollars, the people added, asking not to be identified because the matter is private.