Also Inc., a Rivian (RIVN)-backed startup developing small electric vehicles, was valued at $1B in a new investment from Greenoaks Capital, people familiar with the matter told Bloomberg’s Ed Ludlow and Kiel Porter. Greenoaks put $200M into the business, which was spun out of Rivian earlier this year with $105M in funding from the automaker, at a $1B post-money valuation, said the sources.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on RIVN:
- Rivian spinoff Also valued at $1B in new Greenoaks investment, Bloomberg says
- Bullish flow in Rivian with shares up 3.1%
- Rivian call volume above normal and directionally bullish
- Charged: Tesla sinks as Elon Musk seeks to form new political party
- RIVN vs. TSLA vs. XPEV: Top EV Stock to Buy Now, According to Wall Street Analysts