Rivian's split micro-movement company Also received an additional $150 million in financing. The company disclosed that the D round of financing was sponsored by Prysm Capital and that the old shareholders Eclipse, Greenoaks and MVP Ventures continued to participate. Less than two years after its inception, Also ' s cumulative financing has reached $455 million.

Funds invested in auto-pilot distribution vehicles

Initially cut into the market with electric-aided bicycles and commercial cargo four-wheelers, the company is now further expanding its business focus to auto-pilot vehicles. According to the company, the new funds will be used to accelerate the development of auto-driving technologies and to synchronize the promotion of multiple auto-driving models.

Also indicated that, in the future, vehicles would follow the electric structures used for their existing products. This structure was previously applied to consumer-oriented electric double-wheelers and commercial electric distribution four-wheelers.

  • Current round: $150 million
  • Cumulative corporate finance: $455 million
  • Main use of funds: Autopilot technology and multi-car development

DoorDash has advanced.

This new financing is only a few months past the Also last round. Prior to that, the company had just completed a $200 million financing led by Greennoaks, with the participation of Prysm Capital, and DoorDash had made strategic investments.

In the last round of financing, DoorDash and Also entered into a multi-year commercial cooperation that will jointly develop and deploy automatic-pilot distribution vehicles. As the current round of financing is completed, Also ' s input to the automatic distribution operation is further enhanced.

Jay Park, co-founder and managing partner of Prysm Capital, states that the reason for investing in Also is similar to its early investment in Rivian, with its core focus on its ability to create vertically integrated product systems around small electric vehicles.

From the Rivian internal project to the independent company

Also was not an independent start-up company at first, but a project incubated within Rivian, in the direction of the founder and CEO RJ Scaringe's interest in travelling. The team members, who had come from Apple, Google, Specialized and Tesla, were subsequently formally split from Rivian in 2025 and received $150 million in financial support at independence.

Despite the completion of the break-up, Rivian maintains a close relationship with Also. Rivian held minority shares and Scaringe was still on the board. Also had previously indicated that the Rivian technology, retail networks and scale effects would continue to be used in future expansion.

Last October, Also released its first product, including a TM-B two-wheeler for $4,500 and two four-wheeler models, one of which will be supplied to Amazon.

First product delivery started

On the ground of the product, Also's electric-assisted bike was not well advanced, and the first version was delayed several times. The company has recently indicated that the Launch version has now begun to be shipped to clients, while the reservation and configuration portal for the performance and standard versions has been opened.

According to the company, the first deliveries of other models will start this fall.