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Rivian spinout Also raises $150M Series D for autonomous delivery vehicles
Key points
- Also raised $150 million in Series D funding.
- Prysm Capital led the round; total funding is $455 million.
- Funds will accelerate autonomous driving technology development.
- Also is expanding beyond electric bikes and cargo quads.
New Funding Round
Also, a micromobility startup that originated from Rivian, has successfully raised an additional $150 million in a Series D funding round. This latest investment was led by Prysm Capital and included participation from existing investors such as Eclipse, Greenoaks, and MVP Ventures. The company has now accumulated $455 million in funding since its inception less than two years ago.
Strategic Expansion into Autonomy
The newly acquired capital is earmarked for the acceleration of Also's autonomous driving technology development. This includes the simultaneous progression of multiple autonomous vehicle form factors. These future vehicles will utilize the same electric architecture initially developed for its consumer electric pedal-assist bike and commercial electric delivery quad.
Investor Confidence and Background
Jay Park, co-founder and managing partner at Prysm Capital, stated that the firm's investment in Also mirrors its early backing of Rivian, citing a similar approach to vertically integrated electric vehicles in a smaller form factor. This funding follows a previous $200 million round that included a strategic investment from DoorDash and a multiyear commercial agreement for autonomous delivery vehicle development.
Rivian Connection and Product Status
Also began as a skunkworks project within Rivian, driven by founder and CEO RJ Scaringe's interest in micromobility, before spinning out in 2025 with $150 million in initial funding. Rivian maintains a minority stake in Also, and Scaringe serves on its board. Also plans to leverage Rivian's technology, retail presence, and economies of scale. The company's first products, including the TM-B e-bike and two quad vehicles, were revealed last October, with the e-bike's launch edition now beginning to ship to customers after initial delays.
✨ This summary was generated by AI from the outlets' reporting listed below. It is not independently verified and may contain errors — check the original sources. How BrevFeed works →
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Reporting from
Also, a micromobility startup spun out of Rivian, secured an additional $150 million in Series D funding, bringing its total raised to $455 million. This capital will accelerate the development of its autonomous driving technology and various autonomous vehicle form factors, expanding its business beyond electric bikes and cargo quads.