Rivian spinout Also raises $150 million to expand into autonomous delivery
The micromobility startup has secured a Series D round led by Prysm Capital to accelerate the development of autonomous vehicles, bringing its total funding to $455 million.
Also, a micromobility startup spun out of Rivian, has raised $150 million in a Series D funding round led by Prysm Capital. The new capital will support the company’s expansion beyond its current portfolio of pedal-assist electric bikes and commercial cargo quads into the development of autonomous delivery vehicles.
The round included participation from existing backers Eclipse, Greenoaks, and MVP Ventures. With this latest injection of capital, Also has raised a total of $455 million since its founding less than two years ago. The company stated that the funding will accelerate the development of its autonomous driving technology and allow for the simultaneous progression of multiple autonomous form factors.
These future autonomous vehicles are expected to utilise the same electric architecture developed for the company’s existing consumer and commercial products. Jay Park, co-founder and managing partner at Prysm Capital, noted that the firm is backing Also for similar reasons it supported Rivian early on. Park highlighted the company’s application of a vertically integrated approach to smaller form factor vehicles, mirroring the strategy seen in Rivian’s electric trucks, vans, and SUVs.
This funding follows a $200 million round led by Greenoaks earlier this year, which included a strategic investment from DoorDash. As part of that previous agreement, DoorDash struck a multi-year commercial deal to develop and deploy autonomous delivery vehicles with Also.
Also originated as a skunkworks project within Rivian, driven by founder and CEO RJ Scaringe’s interest in micromobility. The team, which included personnel from Apple, Google, Specialized, and Tesla, evolved into an independent startup in 2025 with an initial $150 million in funding. Rivian retains a minority stake in the company, and Scaringe serves on its board.
The company’s initial product line, revealed last October, includes the TM-B electric bike priced at $4,500 and two quad vehicles, one of which is supplied to Amazon. After delays in shipping the Launch edition of the ebike, the company has now begun deliveries to customers and opened pre-order access for its performance and standard models, with initial deliveries scheduled to begin in the fall.
