Amazon returned for a round valuing the electric truck developer at $27.6bn as it prepares to release its first vehicles later this year.
US-based electric truck developer Rivian raised $2.65bn from investors including e-commerce and cloud computing group Amazon’s Climate Pledge Fund yesterday.
The round was led by funds and accounts advised by T. Rowe Price and also featured investment and financial services group Fidelity, Coatue, D1 Capital Partners and undisclosed new and existing investors.
The funding was secured at a $27.6bn valuation, a person familiar with Rivian’s financials told Reuters.
Rivian is developing an electric pick-up truck dubbed the R1T which is…
