Rivian Spinout Also Raises $150M for Autonomous Delivery Push

Also, the micromobility company spun out of Rivian in 2025, has raised another $150 million as it expands beyond electric bikes and cargo vehicles into autonomous delivery technology.

The Series D round was led by Prysm Capital, with participation from existing investors Eclipse, Greenoaks and MVP Ventures. The latest financing brings Also’s total funding to $455 million since the company was established less than two years ago.

Also targets autonomous delivery vehicles

Also plans to use the new capital to accelerate the development of its autonomous driving technology and to work on multiple autonomous vehicle formats simultaneously. The company says those vehicles will use the same underlying electric architecture developed for its consumer pedal-assist bike and commercial delivery quad.

Prysm Capital co-founder and managing partner Jay Park said the investment reflects some of the same qualities that led the firm to invest early in Rivian, including vertical integration in vehicle development. It is also applying that approach to smaller electric vehicles designed for personal transportation and commercial applications.

The financing follows a $200 million round announced only a few months earlier. That investment was led by Greenoaks and included Prysm Capital as well as a strategic investment from DoorDash.

DoorDash also entered a multiyear commercial agreement with Also to develop and deploy autonomous delivery vehicles. The partnership gives Also a direct commercial use case as it shifts more attention toward autonomous technology.

From a Rivian project to an independent company

Also began as an internal Rivian project focused on micromobility before becoming an independent company in 2025 with $150 million in initial funding. Its team has included people with experience at companies such as Apple, Google, Specialised and Tesla.

Rivian remains connected to the business through a minority ownership stake, while its founder and CEO, RJ Scaringe, also serves on Also’s board. Also said it can benefit from Rivian’s technology, retail footprint, and purchasing scale as it develops its own products.

The company unveiled its first vehicles last October, including the $4,500 TM-B electric two-wheeler and two four-wheel electric platforms. One of the quad vehicles is planned for use by Amazon.

TM-B deliveries begin after delays

Also’s consumer launch has not gone entirely to schedule. Deliveries of the launch edition of its TM-B were delayed for several months, but the company says those bikes are now beginning to reach customers.

Also has also opened preorders and configuration for its standard and performance TM-B models. Initial deliveries of those versions are scheduled to begin in the fall.

The fresh $150 million gives Also additional resources to develop autonomous delivery systems while continuing the rollout of its existing electric vehicles. Its strategy now spans consumer micromobility, commercial cargo transportation, and autonomous last-mile delivery, all based on a shared compact electric-vehicle architecture.