Also Raises $150M in Series D: Spinout from Rivian Shifts Focus to Autonomous Delivery Vehicles

Also, the startup spun out from Rivian, has completed a $150 million funding round, signaling its shift away from pedal-assisted e-bikes and commercial cargo quads toward autonomous delivery vehicles. The company, which separated from Rivian in 2025 with $150 million in seed funding, has now raised a total of $455 million since its inception less than two years ago. The Series D round was led by Prysm Capital, with participation from existing backers Eclipse, Greenoaks, and MVP Ventures. The new capital will be used to accelerate the development of its autonomous driving technology and the simultaneous progression of multiple autonomous vehicle form factors. Prysm Capital co-founder Jay Park highlighted that Also is applying Rivian's approach to smaller, well-designed vehicles. The round follows an earlier $200 million investment led by Greenoaks, which included participation from Prysm Capital and a strategic investment from DoorDash. DoorDash's involvement includes a multiyear commercial agreement to develop and deploy autonomous delivery vehicles. Also began as a micromobility project within Rivian, driven by founder and CEO RJ Scaringe's interest. The team, which included experts from Apple, Google, Specialized, and Tesla, evolved into a standalone startup. While independent, Rivian retains a minority stake and Scaringe remains on its board. Also plans to leverage Rivian's technology, retail network, and economies of scale. In October 2023, the company unveiled its first products, including a $4,500 two-wheeler called the TM-B and quad vehicles, with one supplied to Amazon. Despite delays in e-bike deliveries, Also has now opened preorders for performance and standard models, with initial shipments expected in the fall.

Also's pivot to autonomous delivery vehicles reflects Rivian's expertise in electric mobility, now applied to smaller-scale applications. This strategy could strengthen the company's competitive edge in both commercial and consumer markets. DoorDash's strategic investment also positions Also as a potential leader in delivery automation.