EV micromobility & logistics startup Also, a Rivian spinout, raises $150M Series D, boosting total funding to $455M for autonomous tech development.
Also, an EV micromobility and autonomous logistics startup spun out of Rivian, has secured a fresh $150 million in a Series D funding round.
The latest capital infusion, led by Prysm Capital, boosts the company's total funding to $455 million in under two years.
The funding will primarily fuel the accelerated development of Also's autonomous driving technology and multiple autonomous vehicle form factors, marking a strategic pivot.
Key investors include Prysm Capital, Eclipse, Greenoaks, and MVP Ventures, with DoorDash also having a strategic investment and commercial agreement for autonomous delivery.
The company, which initially focused on consumer e-bikes and cargo quads, is now prioritizing AI-driven autonomous solutions for the lucrative last-mile delivery sector.
Also, the innovative EV micromobility and autonomous logistics startup that spun out of electric vehicle giant Rivian in 2025, has successfully closed a $150 million Series D funding round. This significant capital injection pushes the company’s total funding to an impressive $455 million in less than two years since its inception. The funding round was spearheaded by Prysm Capital, with continued participation from existing backers Eclipse, Greenoaks, and MVP Ventures, signaling strong investor confidence in its evolving business model. The fresh capital is earmarked to accelerate the development of Also's autonomous driving technology and to simultaneously advance multiple autonomous vehicle form factors. This strategic direction sees the company leveraging the electric architecture initially designed for its consumer pedal-assist electric bikes and commercial electric delivery quads, applying it to a more complex, AI-driven autonomous fleet. Jay Park, co-founder and managing partner at Prysm Capital, drew parallels to their early investment in Rivian, emphasizing a shared belief in vertically integrated, wonderfully designed electric vehicles, now applied to smaller-form-factor solutions. This latest round follows a $200 million funding earlier this year, which saw Greenoaks leading the charge, alongside Prysm Capital and a strategic investment from DoorDash. As part of that agreement, DoorDash entered a multiyear commercial partnership with Also to develop and deploy autonomous delivery vehicles, underscoring the growing industry demand for automated last-mile solutions. My read on this is that the strategic alignment with major logistics players like DoorDash provides not just capital, but also critical market validation and a clear path to deployment for Also's autonomous ambitions.
Also has raised a total of $455 million since its founding in 2025, underscoring significant investor confidence in its EV micromobility and autonomous logistics vision.
Also began as a clandestine "skunkworks" project within Rivian, driven by founder and CEO RJ Scaringe's keen interest in micromobility. The project quickly attracted top talent from leading tech and automotive firms, including Apple, Google, Specialized, and Tesla, before officially spinning out of Rivian in 2025 with an initial $150 million in seed funding. While now an independent entity, Rivian retains a minority stake, and Scaringe sits on Also’s board, ensuring continued strategic guidance and access to Rivian’s technological advancements, retail footprint, and economies of scale. Last October, Also unveiled its initial product line, including the $4,500 TM-B two-wheeler and two quad vehicles, one of which is slated for Amazon's delivery fleet. However, the company has faced challenges in getting its e-bikes into customers' hands, highlighting the complexities of direct-to-consumer micromobility.
The Strategic Pivot in Micromobility
What's evident here is a significant strategic pivot, moving beyond the consumer e-bike market, where penetration can be challenging and margins tight, towards the high-growth, high-value segment of autonomous last-mile logistics. The initial focus on pedal-assist electric bikes and commercial cargo quads was a stepping stone. While the Amazon deal for cargo vehicles is significant, the heightened investment in autonomous driving technology signals where Also sees its long-term competitive advantage. This shift is a pragmatic recognition of market realities: the enterprise sector, particularly logistics and e-commerce, offers a clearer path to scalable revenue and widespread deployment for autonomous vehicle technology, leveraging existing infrastructure and solving critical operational pain points.
The Trojan Horse of Micromobility: Also’s Autonomous Pivot
Also’s massive $150 million Series D which brings its total funding to roughly $655 million since spinning out of Rivian less than two years ago, exposes a brilliant & aggressive pivot. When the company initially launched with a $4,500 consumer e-bike (the TM-B), the hardware ecosystem was deeply skeptical. Selling ultra-premium, direct-to-consumer micromobility is a notoriously difficult, low-margin grind. But the e-bike was never the endgame; it was a Trojan horse. Also used the consumer product to battle-test its vertically integrated EV architecture i.e. custom motors, batteries, software stacks, etc. so it could apply that exact same foundation to the actual goldmine: autonomous last-mile logistics.
This Series D, led by Prysm Capital, explicitly funds this transition. By accelerating the development of its AI-driven autonomous platform, Also is shifting its focus from individual commuters to enterprise megacorps. The strategic deals are already in place: a cargo quad (TM-Q) for Amazon, and a multi-year commercial agreement with DoorDash to deploy autonomous delivery bots. For the last-mile sector, this is a wake-up call. The economics of hyper-local delivery (food, groceries, small parcels) are fundamentally broken when relying on human drivers in full-sized cars. By combining Rivian-grade EV engineering with autonomous AI in a form factor small enough to navigate bike lanes and dense urban infrastructure, Also is attempting to completely rewrite the unit economics of the gig economy. The venture ecosystem isn't valuing them as a bike company; they are valuing them as the future operating system of urban freight.
India's Last-Mile Delivery Landscape and What's Next
This global trend toward autonomous last-mile delivery holds immense implications for markets like India, which grapple with dense urban populations, traffic congestion, and a booming e-commerce sector demanding efficient, cost-effective logistics. The capital intensity of developing autonomous vehicle technology is substantial, making large funding rounds like Also's not just beneficial, but absolutely necessary to achieve scale and market dominance. My opinion is that companies that can effectively integrate advanced AI with robust EV hardware, as Also is attempting, will be critical enablers for India's burgeoning digital economy, offering solutions for rapid parcel delivery, food tech, and hyperlocal services. The market for reliable, automated logistics is vast and largely untapped, positioning companies like Also for significant impact if they can execute their vision.
The $150 million Series D round will accelerate the development of Also's autonomous driving technology, furthering its pivot towards AI-driven logistics solutions.
The real value proposition for Also lies not just in manufacturing electric vehicles, but in the intelligent layer of autonomy that powers them. This technological edge, coupled with strategic partnerships with industry giants like DoorDash and Amazon, suggests a calculated move towards a more sustainable and impactful business model. As the global logistics industry continues to evolve, the ability to deploy versatile, autonomous fleets will be a game-changer, and Also appears to be positioning itself at the forefront of this transformation.
Frequently asked questions
What is Also, and what is its connection to Rivian?
Also is an EV micromobility and autonomous logistics startup. It was spun out of Rivian, leveraging some of the foundational work and expertise from the electric vehicle giant.
How much funding has Also raised recently?
Also recently secured $150 million in a Series D funding round, bringing its total funding to $455 million in under two years.
Who led the latest funding round for Also?
The latest $150 million Series D funding round for Also was led by Prysm Capital.
What will Also use the new $150M funding for?
The funding will primarily be used to accelerate the development of Also's autonomous driving technology and expand its fleet of autonomous vehicles.
What kind of vehicles does Also develop?
Also focuses on developing autonomous electric vehicles for micromobility and logistics applications.
How quickly has Also achieved this level of funding?
Also has rapidly amassed $455 million in total funding in less than two years since its inception.
