Rivian Spinoff Also Raises Another $150M to Accelerate

Also, the micromobility startup spun out of Rivian last year, has raised an additional $150 million to expand beyond pedal-assist electric bikes and commercial cargo quads into autonomous delivery vehicles. The Series D round was led by Prysm Capital, with participation from existing backers Eclipse, Greenoaks, and MVP Ventures. This brings Also's total funding to $455 million since its founding less than two years ago. The new capital will be used to accelerate the development of the company's autonomous driving technology and support the simultaneous progression of multiple autonomous form factors, according to a company statement. These future vehicles will leverage the same electric architecture developed for its consumer electric pedal-assist bike and commercial electric delivery quad. Prysm Capital co-founder and managing partner Jay Park said the firm is backing Also for the same reason it was an early investor in Rivian. "We backed Rivian early because we saw the potential behind wonderfully designed, vertically integrated electric trucks, vans and SUVs," Park said, adding that Also is applying that same approach to smaller form factor vehicles. The fresh funding comes a few months after Also raised $200 million in a round led by Greenoaks, with participation from Prysm Capital and a strategic investment from DoorDash. As part of that funding round, DoorDash struck a multi-year commercial agreement to develop and deploy autonomous delivery vehicles. While Also is increasingly focused on autonomous vehicle technology, that's not where it started. Also began as a skunkworks project within Rivian, driven by founder and CEO RJ Scaringe's interest in micromobility. That team, which included people from Apple, Google, Specialized, and Tesla, evolved into a startup that spun out of Rivian in 2025, armed with the name Also and $150 million in funding. Although Also is independent, Rivian remains closely tied to it. Rivian holds a minority stake, and Scaringe serves on Also's board. Also has previously stated it will leverage the automaker's technology, retail presence, and economies of scale as it grows. In October 2025, Also revealed its first products: a $4,500 two-wheeler called the TM-B and two quad vehicles, one of which will be supplied to Amazon. However, the company has struggled to get its e-bike into customers' hands, with the launch edition delayed for months. Also said the Launch edition is now beginning to ship to customers, and it has opened pre-order and configuration access for its performance and standard models. Initial deliveries of these other models are expected to begin in the fall of 2026.

via TechCrunch