Rivian’s CEO Is Building Robots on the Side — and Investors Just Valued It at $3.4 Billion

TLDR

• Mind Robotics, founded by Rivian CEO RJ Scaringe, raised $400 million in a new funding round led by Kleiner Perkins.
• The company is now valued at $3.4 billion, up from $2 billion in March 2026.
• Total funding has passed $1 billion in less than a year since the company was founded.
• New investors include Meritech Capital, Redpoint Ventures, Salesforce Ventures, and Volkswagen-affiliated Incharge Capital.
• Mind Robotics is deploying industrial AI robots in Rivian’s factory in Normal, Illinois.

Mind Robotics, the industrial robotics startup spun out of electric vehicle maker Rivian, has raised $400 million in a new funding round, pushing its valuation to $3.4 billion.

The round was led by Kleiner Perkins. New investors include Meritech Capital, Redpoint Ventures, SV Angel, Incharge Capital, Salesforce Ventures, A-Star Capital, and Garuda Ventures. Incharge Capital is affiliated with Volkswagen, which is also a major investor in Rivian.

The company was founded late last year by Rivian’s CEO, RJ Scaringe. He serves as chairman of Mind Robotics, while continuing to lead Rivian.

Scaringe said the idea came from talks with robotics startups about tackling a labor shortage in Rivian’s factories. He left those conversations believing Rivian could build the solution itself. Rivian holds a stake in the company.

The latest raise brings Mind Robotics’ total funding to more than $1 billion in under a year. It previously raised $115 million in a seed round and $500 million in a Series A in March 2026, which valued the company at $2 billion.

What Mind Robotics Actually Does

Mind Robotics builds foundation AI models, purpose-built robots, and deployment tools aimed at industrial manufacturing. The goal is to create robots that can handle tasks in factories that have traditionally required human workers.

Rivian’s factory in Normal, Illinois is being used as a live training ground. Mind Robotics is deploying hundreds of robots there, using real production data to train and improve its AI systems.

Scaringe noted that building robots shares a lot in common with building cars. Both require precision hardware, software integration, and complex supply chains.

Competing in a Crowded Space

Mind Robotics enters a growing field. Companies like Figure AI, Agility Robotics, Amazon, and Tesla are all working on intelligent robots for factory and home use.

Investor interest in AI-powered automation has been rising as manufacturers look for ways to reduce reliance on human labor and lower costs. Recent progress in AI has led many investors to believe robot deployment is approaching a turning point.

Mind Robotics’ long-term plan is to move beyond Rivian and become a supplier to the wider manufacturing industry. The company has not yet announced other customers.

Rivian’s stock rose around 3% on the day the funding was announced. The company has not disclosed the exact size of its ownership stake in Mind Robotics.

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