Rimac’s latest funding round values it at €2 billion - Porsche takes 20 percent stake

Mate Rimac, the CEO of Rimac Group that currently owns Bugatti, announced on Tuesday that the company has just concluded its Series D investment round. Despite the company’s hyper car business being fully self sustainable, the Rimac Technology - which is the subsidiary responsible for OEM technology development and supplies - needed investment to further develop and prepare for eventually going public.

The investment total is €500 million with Porsche retaining its stake of 20% by investing further and Goldman Sachs with Softbank Vision Fund2 closing the investor ranks. Mate Rimac remains the largest shareholder of the Rimac Group which in turn is the largest shareholder of Rimac Bugatti and solitary owner of Rimac Technology. Corporate structures can be complicated at times.

The investment puts the Rimac Group value at €2 billion and is aimed at developing a new campus for the company in Zagreb, Croatia. Company estimates it will cost at least €180 million to build the facility for battery manufacturing and development, the substantial part of the investment will be spent on hiring new talent.

The company plans to heavily invest into software development as well as increasing OEM components supplies for other manufacturers. Mate Rimac acknowledged the company has become a target for other global car manufacturers and this investment will help it to remain independent.

Rimac Group has seen unprecedented progress, Mate Rimac proudly announced that it took the company ten years to go from a car garage to a global manufacturer. In November last year Rimac merged with Bugatti and the new outfit is now responsible for final development of Rimac Nevera, the 1,914 hp electric hypercar. Nevera will debut some time this summer and it is shaping up to be the fastest ever accelerating production car with a claimed 0 to 60 mph time of 1.85 seconds.

Rimac Group has been developing the Nevera in house with many new proprietary technological solutions that allowed the company to leverage its expertise and secure lucrative supply contracts with other automakers. Those include Koenigsegg, Aston Martin, Porsche and Pininfarina.

The new manufacturing facility in Zagreb is developing quite fast. The company started working on it back in August last year and despite many known supply chain issues managed to make serious progress. The new HQ will be home to Rimac and Bugatti research and development, it is where all new batteries will be manufactured among many other components for the company’s partners.

Rimac Group plans to employ 700 new members of staff and it wants to open new offices in Germany and England with another site planned for Italy.

Rimac Nevera is coming this summer, it will be joined by its twin Pininfarina Battista and the EV world will have a duo of fastest ever accelerating production cars. Both cars will cost in excess of €2 million and are already sold out - there is no question the EV world has gone mad.

The technology used in those two hypercars will be used in other, less hyper models. Nevera is also a development testbed for the new technology.

Via