Micromobility Startup Also Raises $150 Million for Autonomous Vehicle Development

Also, a micromobility startup that emerged from Rivian, has secured an additional $150 million in funding to expand its operations from pedal-assist electric bicycles and commercial cargo quads to include autonomous delivery vehicles. This Series D funding round was led by Prysm Capital and saw participation from existing investors Eclipse, Greenoaks, and MVP Ventures. To date, Also has raised a total of $455 million since its inception less than two years ago.

The newly acquired capital is intended to “accelerate the development” of the company’s autonomous driving technology and facilitate the “simultaneous progression of multiple autonomous form factors.” Future vehicles will be based on the same electric architecture designed for its consumer electric bikes and commercial delivery quads.

Jay Park, co-founder and managing partner of Prysm Capital, stated that the firm’s support for Also mirrors its early investment strategy with Rivian, which was motivated by the potential of well-designed, vertically integrated electric vehicles. “We backed Rivian early because we saw the potential behind wonderfully designed, vertically integrated electric trucks, vans, and SUVs,” Park noted, highlighting Also’s similar approach to smaller vehicle formats.

This round of funding follows a previous $200 million raise in June, which was led by Greenoaks and included contributions from Prysm Capital and a strategic investment from DoorDash. During that round, DoorDash established a multiyear commercial agreement to partner with Also on the development and deployment of autonomous delivery vehicles.

Initially conceived as a skunkworks project at Rivian—driven by founder and CEO RJ Scaringe’s interest in micromobility—Also transitioned into an independent startup in 2025, spinning out with $150 million in funding. The team brought together expertise from tech giants such as Apple, Google, Specialized, and Tesla.

Although Also operates independently, Rivian retains a minority stake in the company, and Scaringe sits on its board. Also has indicated plans to leverage Rivian’s technology, retail presence, and economies of scale as it continues to grow.

Last October, Also introduced its initial products, which include a $4,500 two-wheeled electric bike named the TM-B and two quad vehicles, one designated for Amazon. Despite facing challenges in getting its e-bikes to customers, including delays in the launch edition, the company has announced that shipping for the launch edition has commenced. Additionally, preorder access for its performance and standard models has opened, with initial deliveries scheduled for this fall.