Key facts
- Micromobility startup Also has raised an additional $150 million in Series D funding.
- The funding round was led by Prysm Capital, with participation from existing investors.
- Also has raised a total of $455 million since its founding less than two years ago.
- The capital will be used to accelerate autonomous driving technology and vehicle development.
- Also previously raised $200 million, including a strategic investment from DoorDash.
- Rivian, which spun Also out in 2025, holds a minority stake in the company.
Also, a micromobility startup that originated as a skunkworks project within Rivian, has secured an additional $150 million in Series D funding. The round was led by Prysm Capital and included participation from existing investors Eclipse, Greenoaks, and MVP Ventures. This latest capital injection brings Also's total funding to $455 million since its inception less than two years ago.
The funds are earmarked for accelerating the development of the company's autonomous driving technology and progressing multiple autonomous vehicle form factors. These future vehicles will utilize the same electric architecture as Also's current consumer electric pedal-assist bike and commercial electric delivery quad.
Prysm Capital's Jay Park stated that the firm's investment mirrors its early backing of Rivian, citing Also's application of a vertically integrated approach to smaller vehicle forms. This funding follows a previous $200 million round led by Greenoaks, which also saw participation from Prysm Capital and a strategic investment from DoorDash. As part of that earlier deal, DoorDash entered into a multi-year agreement to develop and deploy autonomous delivery vehicles with Also.
Also initially emerged from Rivian in 2025, driven by founder RJ Scaringe's interest in micromobility. Despite its independence, Also maintains ties with Rivian, which holds a minority stake and has founder Scaringe on its board. Also plans to leverage Rivian's technology, retail network, and economies of scale.
The company revealed its first products, the TM-B e-bike and two quad vehicles, last October. While the launch edition of its e-bike experienced delays, Also has stated that shipments are now beginning, with pre-orders open for performance and standard models, and initial deliveries expected in the fall.