At the beginning of June, the Rimac Group closed the biggest investment deals ever in Croatia – over half a billion euros. Leading investors in the new round are investment banks Softbank and Goldman Sachs.
The group is headed by 34-year-old Mate Rimac and his already world-famous Rimac Automobili – in which many investors including Porsche and KIA have invested.
With over 500 million euros, this is the largest investment round for Rimac so far. The funds will be used to continue innovations in production, increase production capacities and additional employment of the existing 1,000 employees. The latest investment round is not only bigger than all the previous ones, but it is bigger than all the investments in Croatia combined. With this, the value of Rimac, the Croatian startup located in Sveta Nedelja, Croatia, has officially exceeded 2 billion euros.
Judging by the largest investors in this “Series D” investment round, Rimac is increasingly seen as a company of great innovation and technology. Japanese investor Softbank mainly invests in companies working in technology, energy and the financial sector.
Almost a year ago, Rimac Automobili was restructured and renamed as Rimac Grupa. Bugatti-Rimac was created by merging the manufacturing division of Rimac Automobili with Bugatti. The company is jointly owned by Rimac Group 55% and Porsche 45%. Under the banner of the company are Bugatti Automobiles and Rimac Automobili. The second company, Rimac Technology is a research and development company, and it is 100% owned by Rimac Group.
“Rimac has ambitious growth plans over the next few years. We are delighted with the support of new significant investors who believe in our vision, investors such as SoftBank Vision Fund 2 and Goldman Sachs Asset Management. We are also grateful to Porsche and InvestIndustrial who have played a pivotal role in our success so far and strengthened their support with new investments.
We want to rapidly expand the Group, establish new production processes to meet global automotive demand; to recruit 700 new talented team members in 2022; to open new offices in several locations across Europe; and to expand our manufacturing facilities on campus and beyond. The support of our expert investors will be an invaluable guide through this uncharted territory. I would also like to personally thank all our employees. Without their hard work, loyalty and enthusiasm for Rimac’s vision, we would not be here today.”
Investors see the potential and rapid growth of the electric vehicle manufacturing industry. Rimac is one of the leading companies when it comes to electric vehicles, but also batteries for the said electric vehicles. The technology possessed by the Croatian manufacturer is one of the reasons for the partnerships with Porsche, Hyundai, Automobili Pininfarina, Koenigsegg and Aston Martin. For now, production is far from desired, but when the capacity is completed, the company will be able to deliver tens of thousands of components per year.
Thanks to the development and technology, but also thanks to the entry of foreign partners, the interest in Rimac is huge. The company can boast that the number of foreigners who want to work at Rimac is also growing.