The Croatian electric car manufacturer Rimac Automobili has raised €500 million (3.78 billion HRK) in a recent investment round led by SoftBank Vision Fund 2 and Goldman Sachs Asset Management. This brings the Croatian company to a valuation of €2 billion. The cash from the Series D investment will be used for further growth, production capacity expansion, and additional hiring.
“With new investors on board, Rimac is further expanding its position in electromobility and thus becoming an even stronger partner for Porsche. The close cooperation creates added value on both sides in terms of technology and innovative strength,” said Lutz Meschke, deputy chairman of Porsche’s executive board.
Despite the investment, company founder Mate Rimac remains the firm’s largest shareholder. A total of 55% of Rimac Group is owned by Bugatti Rimac, while 45% is owned by Porsche. The recently separated company Rimac Technology is completely independent and 100 percent owned by the Rimac Group, reported RTL.
With over 1500 employees, Rimac is currently on the course to becoming the largest company in Croatia. And the company has ambitious plans to grow even further. A major part of the capital raised will be used for the development of Rimac Technology and for hiring additional 700 employees by the end of the year.
“As we look to rapidly scale the group, establish new manufacturing processes to meet global automotive demand, recruit 700 talented team members in 2022, open new offices in several locations across Europe and expand our new production facilities at the campus and beyond, the backing of our expert investors will be an invaluable guide through this uncharted territory,” said Mate Rimac in an official statement.
Rimac is a great driving force for innovation and improvement in Croatia and the region on all fronts. A while ago, the Croatian car maker announced that it plans to build the largest campus for new technologies in the country, creating not only job opportunities but also a chance for a local innovation hub and training of future talents and entrepreneurs.
In May 2022, the company received a €120 million investment from Investindustrial, one of Europe’s leading independent investment groups focused on medium-sized companies in Southern Europe.
In July last year, Rimac purchased a majority in super luxury automaker Bugatti Automobiles from Volkswagen Group.