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Benzinga

Technology

Anusuya Lahiri

YOU WONT BELIEVE: Softbank goldman porsche procure stake in this ev maker s latest funding round valuing it over 2b - What They Never Told You

Mate Rimac Bugatti Rimac SoftBank Group Corp Bugatti Volkswagen

SoftBank Group Corp (OTC:SFTBY) (OTC:SFTBF) and Goldman Sachs Group, Inc (NYSE:GS) invested in Croatian electric supercar maker Rimac in a €500 million ($536 million) funding round, giving it a valuation of over €2 billion, the Financial Times reports.

Volkswagen AG's (OTC:VWAGY) Porsche Automobile Holding SE (OTC:POAHY), one of the first carmakers to back the business, presently owns a 20% stake, the TechCrunch reports. Rimac will partly use the new investments to build its fledgling self-driving robotaxi business, which has been under a stealth mode for the past three years.

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