Rivian spinout Also raises another $150 million
Micromobility startup Also, which spun out from Rivian, has raised a $150 million Series D round led by Prysm Capital, bringing its total funding to $455 million.
Stock photo for illustration only, not from the actual event
- Also secures an additional $150 million in a Series D funding round led by Prysm Capital
- Total funding reaches $455 million since the company was founded less than two years ago
- Expanding business operations into autonomous delivery vehicle technology
- Launch edition e-bikes are finally shipping to customers after months of delays
Also, the micromobility startup that originated as a spinout from Rivian, has secured an additional $150 million in funding as it expands its business footprint beyond pedal-assist electric bikes and commercial cargo quads into autonomous delivery vehicles.
The Series D round was spearheaded by Prysm Capital, with participation from returning investors Eclipse, Greenoaks, and MVP Ventures. This latest injection brings Also's total capital raised to $455 million since its inception less than two years ago.
The fresh financial backing arrives just months after Also closed a $200 million round led by Greenoaks, which featured participation from Prysm Capital along with a strategic investment from DoorDash. Concurrently with that previous round, DoorDash entered into a multiyear commercial partnership to develop and deploy autonomous delivery vehicles.
Stock photo for illustration only, not from the actual event
While Also's roadmap heavily emphasizes autonomous vehicle technology, its origins trace back elsewhere. The enterprise started as a skunkworks initiative inside Rivian, sparked by CEO and founder RJ Scaringe's personal interest in micromobility. That team drew talent from tech and automotive giants including Apple, Google, Specialized, and Tesla before incorporating independently and spinning out of Rivian in 2025 with $150 million in initial funding.
"We backed Rivian early because we saw the potential behind wonderfully designed, vertically integrated electric trucks, vans, and SUVs, and Also is applying that same approach to smaller-form-factor vehicles."
Jay Park, Prysm Capital Co-founder and Managing Partner
Even though Also operates as a standalone entity, financial and structural ties with Rivian remain intact. Rivian maintains a minority equity stake, and Scaringe sits on the startup's board of directors. Also has previously emphasized that it will leverage the parent automaker's proprietary technology, retail footprint, and manufacturing economies of scale as it scales up.
Also's strategic pivot from consumer micromobility like e-bikes toward B2B autonomous delivery solutions highlights a lucrative adaptation in the electric vehicle sector. By integrating deep tech capabilities with commercial delivery validation from giants like Amazon and DoorDash, the company is positioning itself to capture the high-demand logistics automation market while leaning on Rivian's robust automotive ecosystem.
Back in October, Also unveiled its inaugural product lineup, which featured a $4,500 two-wheeler named the TM-B alongside two quad vehicles, with one designated for Amazon's fleet. The company previously faced hurdles getting its electric bikes into the hands of consumers, resulting in months of delivery delays for the Launch edition. However, Also confirmed that the Launch edition is currently dispatching to buyers, while preorder and configuration options for standard and performance variants are now open ahead of autumn deliveries.
Source: TechCrunch
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