RJ Scaringe has raised $12 billion across three startups, and investors are still queueing up

RJ Scaringe, founder of electric vehicle manufacturer Rivian, has raised over $12.3 billion across three startups, with investors continuing to show strong interest. His latest venture, Mind Robotics, closed a $400 million funding round led by Kleiner Perkins, bringing its total funding to over $1 billion and valuing the company at $3.4 billion. Volkswagen and Salesforce also participated in the round. Mind Robotics, founded in 2025 as an internal Rivian project called 'Project Synapse,' focuses on developing AI-powered robots for complex manufacturing tasks that traditional automation cannot handle. Scaringe’s second startup, Also, an electric micromobility company spun out of Rivian in 2025, has raised over $300 million, including a $200 million Series C round led by Greenoaks in March, valuing it at over $1 billion. Also’s products include a $3,500 e-bike and a four-wheeled cargo EV designed for last-mile delivery, with DoorDash investing alongside a multi-year commercial agreement. The majority of Scaringe’s $12.3 billion in funding has gone to Rivian, which was founded in 2009 and went public in November 2021, raising nearly $12 billion during its IPO. Rivian’s market capitalization now stands at approximately $18.2 billion, down from its peak, but the company continues to secure major partnerships, including a $5.8 billion software joint venture with Volkswagen and a $1.25 billion deal with Uber for up to 50,000 autonomous Rivian R2 robotaxis by 2031. Mind Robotics’ rapid growth reflects its focus on AI-driven industrial automation, leveraging Rivian’s production lines as a training ground. Eclipse, a lead investor in both Also and Mind Robotics, attributes Scaringe’s success to his engineering expertise and product vision. The company’s Series A round in March raised $500 million, followed by the recent $400 million round, demonstrating strong investor confidence in its approach to manufacturing automation.