Rivian Founder Scaringe Raises $12.3 Billion Across Startups as Investors Back New Ventures

RJ Scaringe, founder of Rivian Automotive Inc. (RIVN), has raised more than $12.3 billion across three startups in less than a decade, including a $400 million financing for industrial AI and robotics startup Mind Robotics in the week ended May 15, 2026. Most of the capital went to Rivian, which raised more than $11 billion from venture, strategic and institutional investors before its November 2021 IPO. Rivian raised nearly $12 billion in gross proceeds at $78 a share, briefly reaching a $100 billion market value. Its market capitalization is now about $18.2 billion amid broader pressure on EV stocks. Scaringe’s newer companies have raised more than $1.3 billion combined. Micromobility startup Also has secured more than $300 million, including backing from DoorDash. Mind Robotics raised $115 million in its first year, $500 million in March 2026 and the latest $400 million round. Rivian has also announced a $5.8 billion Volkswagen joint venture and an Uber robotaxi partnership valued at up to $1.25 billion.