Wednesday, January 6, 2021

Rivian Seeking New Funding At $25 Billion Valuation

Electric truck maker Rivian--which has operations in Southern California, despite being based in Michigan--is apparently in the midst of yet another funding, and is raising a round valuing the company at $25 billion, according to Bloomberg. The company just raised $2.5M over the summer from a number of investment companies, along with Amazon. Rivian has an office in Irvine. The company's prior investors include Irvine-based Kelly Blue Book, which invested $350M in the electric truck maker in 2019.