Rivian spinout Also raises $150M Series D for autonomous delivery push

Also has raised another $150 million as the micromobility startup that spun out of Rivian last year expands its business beyond pedal-assist electric bikes and commercial cargo quads to autonomous delivery vehicles. The Series D round was led by Prysm Capital and included existing backers Eclipse, Greenoaks, and MVP Ventures. Also has raised $455 million since its founding less than two years ago.

The new capital will be used to “accelerate the development” of the company’s autonomous driving technology and the “simultaneous progression of multiple autonomous form factors,” according to the company. These future vehicles will use the same electric architecture developed for its consumer electric pedal-assist bike and commercial electric delivery quad.

Prysm Capital co-founder and managing partner Jay Park said the firm is backing Also for the same reason it was an early investor in Rivian. “We backed Rivian early because we saw the potential behind wonderfully designed, vertically integrated electric trucks, vans, and SUVs,” Park said, adding that Also is applying that same approach to smaller-form-factor vehicles.

The fresh funding comes a few months after Also raised $200 million in a round led by Greenoaks, with participation from Prysm Capital and a strategic investment from DoorDash. As part of that funding round, DoorDash struck a multiyear commercial agreement to develop and deploy autonomous delivery vehicles.

While Also is increasingly focused on autonomous vehicle tech, that’s not where it started. Also began as a skunkworks project within Rivian, driven by founder and CEO RJ Scaringe’s interest in micromobility. That team, which pulled in people from Apple, Google, Specialized, and Tesla, evolved into a startup that spun out of Rivian in 2025 armed with the Also name and $150 million in funding. Rivian holds a minority stake in the independent company, and Scaringe serves on its board; Also has said it will leverage the automaker’s tech, retail presence, and economies of scale as it grows.

Last October, Also revealed its first products: a $4,500 two-wheeler called the TM-B and two quad vehicles, one of which will be supplied to Amazon. The company has struggled to get the e-bike into customers’ hands — its launch edition was delayed for months — but says the launch edition is now beginning to ship, and it has opened preorder and configuration access to its performance and standard models, with initial deliveries of those other models set to begin in the fall.

Why it matters

Also’s shift from consumer e-bikes toward autonomous delivery vehicles — backed by both Rivian’s engineering DNA and a commercial deal with DoorDash — puts it in direct competition for the same last-mile delivery market that companies like Amazon are also racing to automate with drones and robots.