Also, a micromobility startup that originated from Rivian, has announced it has raised an additional $150 million. This Series D funding round was led by Prysm Capital and included existing investors Eclipse, Greenoaks, and MVP Ventures.
The company stated that the new capital will be used to "accelerate the development" of its autonomous driving technology and the "simultaneous progression of multiple autonomous form factors." These future vehicles are planned to utilise the electric architecture already developed for its consumer electric pedal-assist bike and commercial electric delivery quad.
This latest investment follows a $200 million round a few months prior, which saw participation from Prysm Capital and a strategic investment from DoorDash. As part of that earlier funding, DoorDash entered into a multi-year commercial agreement with Also to develop and deploy autonomous delivery vehicles.
Also spun out of Rivian in 2025 with $150 million in funding and Rivian maintains a minority stake in the company. Rivian's CEO, RJ Scaringe, serves on Also's board. The company has previously indicated it will leverage Rivian's technology, retail presence, and economies of scale.
While Also's initial products included a pedal-assist electric bike, the TM-B, and two quad vehicles, with one slated for Amazon, the company has faced delays in getting its ebike to customers. The Launch edition is now reportedly shipping, and pre-order access for performance and standard models has opened, with initial deliveries expected in the autumn.