Also, a micromobility startup that emerged from Rivian in 2025, has secured an additional $150 million in funding to broaden its scope beyond pedal-assist electric bikes and commercial cargo quad vehicles into autonomous delivery machines. This Series D financing round was spearheaded by Prysm Capital, with existing investors Eclipse, Greenoaks, and MVP Ventures also participating. Since its inception less than two years ago, Also has raised a total of $455 million to accelerate its technological growth.

The new capital injection is intended to boost the development of Also's autonomous driving technologies and advance multiple autonomous vehicle types simultaneously, utilizing the same electric foundation initially built for its consumer pedal-assist bikes and commercial quads. Prysm Capital’s co-founder Jay Park highlighted the firm's enthusiasm for Also’s approach, drawing parallels with their early support for Rivian due to its innovative and vertically integrated electric trucks and SUVs. Park believes Also applies this strategy effectively to smaller-scale vehicles.

Also's evolution began as an internal project within Rivian, led by founder and CEO RJ Scaringe, who has a strong interest in micromobility solutions. The team, comprising talent from Apple, Google, Specialized, and Tesla, grew into an independent company with Rivian retaining a minority stake and Scaringe remaining on Rivian’s board. The startup also benefits from Rivian’s technologies, retail footprint, and scale as it expands. Last fall, Also introduced its initial products including a $4,500 two-wheeled electric bike named TM-B and two quad vehicles, one set to be supplied to Amazon.

Despite some early challenges in delivering its e-bikes, Also has recently commenced shipments of its Launch edition and opened preorders for performance and standard models, with further deliveries expected in the fall. This new round follows a $200 million fundraising earlier this year, which included a strategic partnership with DoorDash to develop and deploy autonomous delivery vehicles under a multiyear commercial agreement. The fresh funding signals Also’s ongoing commitment to growing its footprint in the autonomous delivery space.