Rivian spinout Also raises another $150 million

Also has raised different $150 cardinal arsenic the micromobility startup that spun retired of Rivian past twelvemonth expands its concern beyond pedal-assist electrical bikes and commercialized cargo quads to autonomous transportation vehicles.

The Series D circular was led by Prysm Capital and included existing backers Eclipse, Greenoaks, and MVP Ventures. Also has raised $455 cardinal since its founding little than 2 years ago.

The caller superior volition beryllium utilized to “accelerate the development” of the company’s autonomous driving exertion and the “simultaneous progression of aggregate autonomous signifier factors,” according to the company. These aboriginal vehicles volition usage the aforesaid electrical architecture developed for its user electrical pedal-assist motorcycle and commercialized electrical transportation quad.

Prysm Capital co-founder and managing spouse Jay Park said the steadfast is backing Also for the aforesaid crushed it was an aboriginal capitalist successful Rivian.

“We backed Rivian aboriginal due to the fact that we saw the imaginable down wonderfully designed, vertically integrated electrical trucks, vans and SUVs,” Park said, adding that Also america applying that aforesaid attack to smaller signifier origin vehicles.

The caller backing comes a fewer months since Also raised $200 cardinal successful a circular led by Greenoaks, with information from Prysm Capital and a strategical concern from DoorDash. As portion of that backing round, DoorDash struck a multi-year commercialized statement to make and deploy autonomous transportation vehicles.

While Also is progressively focused connected autonomous conveyance tech, that’s not wherever it started. Also began arsenic a skunkworks task wrong Rivian, a pursuit driven by laminitis and CEO RJ Scaringe’s involvement successful micromobility. That team, which pulled successful radical from Apple, Google, Specialized, Tesla, evolved into a startup, which spun retired of Rivian successful 2025 equipped with the sanction Also and $150 cardinal successful funding.

While Also is independent, Rivian is inactive precise overmuch tied to it. Rivian holds a number stake, and Scaringe serves connected its board. Also has antecedently said it volition leverage the automaker’s tech, retail presence, and economies of standard arsenic it grows.

Last October, Also revealed its archetypal products, a $4,500 two-wheeler called the TM-B and 2 quad vehicles arsenic well, 1 of which volition be supplied to Amazon.

Also has struggled to get its ebike into customers’ hands and its motorboat variation was delayed for months. The institution said the Launch variation is present beginning to ship to customers and has opened up the pre-order and configuration entree to its show and modular models. The institution said archetypal deliveries of these different models volition statesman successful fall.