11.5 C
London
Thursday, October 6, 2022

What’s the ‘secret sauce’ behind Croatian EV maker Rimac? – londonbusinessblog.com

Must read

Biden Meets DeSantis While Investigating Hurricane Ian Damage In Florida

WASHINGTON — President Joe Biden visited Florida on Wednesday to review the damage caused by Hurricane Ian, his second storm-related trip this week.The president,...

Popular tools to bypass censorship face new blockade by China • londonbusinessblog.com

Tools that help Chinese internet users bypass the Great Firewall appear to be facing another round of crackdowns ahead of the country's five-year party...

Startups and VCs are increasingly embracing the federal government. This is why

On paper, the federal government looks like an ideal client for a start-up business: the seemingly endless budget does not fluctuate with market conditions...

Limit reached – Join the EU Startups CLUB

€147/quarter This option is ideal for companies and investors who want to keep up to date with Europe's most promising startups, have full access...
Shreya Christinahttps://londonbusinessblog.com
Shreya has been with londonbusinessblog.com for 3 years, writing copy for client websites, blog posts, EDMs and other mediums to engage readers and encourage action. By collaborating with clients, our SEO manager and the wider londonbusinessblog.com team, Shreya seeks to understand an audience before creating memorable, persuasive copy.

The $2.2 billion startup has its sights set on an IPO — but definitely not a SPAC

Rimac Group created made headlines in June after it raised €500 million ($537 million) in a Series D round led by Goldman Sachs and SoftBank Vision Fund 2. The deal valued the Croatian startup at $2.2 billion, prompting the question: how has this company managed where so many other EV makers have struggled?

Rimac, which merged its hypercar division with French supercar maker Bugatti in November, has taken a two-pronged approach the industry has not seen before: it continues to make hypercars like Bugatti Rimac, while leveraging the knowledge gained from that. process has been obtained to develop technology to supply other automakers through its subsidiary Rimac Technology. The client list includes Porsche, a quadruple investor who now owns a 20% stake in the company.

Founded in 2009 in the garage of Mate Rimac, then a 21-year-old student, the company has become a Croatian sensation, one of the two unicorns in the country, alongside Infobip, an IT and telecommunications company.

“I see their secret sauce as the complementary nature of the two companies – how the hypercar test bench creates value for the B2B supplier,” said Stephen Beck, founder and managing partner of management consulting firm cg42. “The two companies feed off each other without really competing with each other.”

More articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest article

Biden Meets DeSantis While Investigating Hurricane Ian Damage In Florida

WASHINGTON — President Joe Biden visited Florida on Wednesday to review the damage caused by Hurricane Ian, his second storm-related trip this week.The president,...

Popular tools to bypass censorship face new blockade by China • londonbusinessblog.com

Tools that help Chinese internet users bypass the Great Firewall appear to be facing another round of crackdowns ahead of the country's five-year party...

Startups and VCs are increasingly embracing the federal government. This is why

On paper, the federal government looks like an ideal client for a start-up business: the seemingly endless budget does not fluctuate with market conditions...

Limit reached – Join the EU Startups CLUB

€147/quarter This option is ideal for companies and investors who want to keep up to date with Europe's most promising startups, have full access...

WiseTech Global donates $2.5 million to Grok Academy, a tech learning platform for kids, along with a 1% pledge of profits

ASX listed logistics company WiseTech worldwide has committed 1% of its annual pre-tax profits to technical education through Grok Academy as part of a...