Also, a micromobility startup that emerged from Rivian in 2025, has successfully raised an additional $150 million in a Series D funding round. This latest investment, led by Prysm Capital with participation from existing backers Eclipse, Greenoaks, and MVP Ventures, brings the company’s total funding to $455 million in less than two years.
Initially focusing on pedal-assist electric bikes and commercial cargo quads, Also is now channeling its resources into developing autonomous delivery vehicles. The fresh capital will accelerate the advancement of the company’s autonomous driving technology and support the concurrent development of multiple autonomous vehicle models. These forthcoming vehicles will utilize the same electric architecture as the company’s existing consumer electric bikes and commercial delivery quads.
Prysm Capital’s co-founder and managing partner, Jay Park, highlighted the firm’s confidence in Also’s approach, drawing parallels to their early investment in Rivian. Park noted that the same principles of design and vertical integration applied to electric trucks, vans, and SUVs are now being implemented by Also in smaller vehicle formats.
This funding follows a $200 million round earlier this year, led by Greenoaks and including Prysm Capital, along with a strategic investment from DoorDash. As part of that round, DoorDash entered into a multi-year agreement with Also to develop and deploy autonomous delivery vehicles.
Also’s journey began as a skunkworks project within Rivian, driven by founder and CEO RJ Scaringe’s interest in micromobility solutions. The team, comprising individuals from Apple, Google, Specialized, and Tesla, evolved into an independent startup in 2025, launching with $150 million in funding. Despite its independence, Rivian maintains a minority stake in Also, and Scaringe serves on its board. The startup plans to leverage Rivian’s technology, retail presence, and economies of scale as it expands.
In October 2025, Also unveiled its initial products: a $4,500 two-wheeler named the TM-B and two quad vehicles, one of which is slated for supply to Amazon. The company faced delays in delivering its e-bike to customers, but the launch edition is now shipping, with pre-orders open for performance and standard models. Initial deliveries of these models are expected to commence in the fall.
Also’s rapid progression from a Rivian project to a well-funded independent entity underscores the growing interest and investment in micromobility and autonomous delivery solutions. As urban areas seek more efficient and sustainable transportation options, companies like Also are poised to play a pivotal role in shaping the future of urban mobility.
