Also Raises $150M Series D to Accelerate Autonomous Small EVs

Also Raises $150M Series D to Accelerate Autonomous Small EVs

Also, the micromobility startup spun out of electric vehicle maker Rivian in 2025, has raised another $150 million in a Series D funding round as it expands beyond electric bikes and commercial cargo vehicles into autonomous delivery vehicles.

The 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 in less than two years since its founding.

The new capital will be used to accelerate development of Also's autonomous driving technology and support the simultaneous development of multiple autonomous vehicle form factors. The company plans to use a common electric architecture across its consumer and commercial vehicle platforms.

Also began as a micromobility project inside Rivian before becoming an independent startup in 2025. The company was created around the idea of developing smaller electric vehicles that could serve both consumer and commercial applications.

Its initial products have focused on pedal-assist electric bikes and commercial electric delivery quads. However, the company is now increasingly shifting its focus toward autonomous vehicles designed for the movement of goods and potentially passengers in urban environments.

Also's current vehicle architecture is intended to support multiple applications rather than a single vehicle type. The company says the same underlying electric architecture developed for its consumer pedal-assist bike and commercial delivery quad can be adapted for future autonomous vehicles.

The latest funding follows a $200 million Series C round raised earlier in 2026. That round was led by Greenoaks, with participation from Prysm Capital and a strategic investment from DoorDash.

As part of that earlier financing, DoorDash entered into a multiyear commercial agreement with Also to develop and deploy autonomous delivery vehicles. The partnership gives Also a potential commercial pathway for its autonomous technology in last-mile delivery.

Also has also established relationships with major companies around its electric cargo vehicles. Amazon previously announced plans to purchase thousands of pedal-assist electric cargo quads from the company.

Although Also is now putting greater emphasis on autonomy, its consumer electric bike business remains an important part of its product strategy. The company unveiled its first products in October 2025, including the $4,500 TM-B electric two-wheeler and two commercial quad vehicles.

The launch of the TM-B has faced delays. Also initially struggled to get the e-bike into customers' hands, with its Launch Edition delivery pushed back by several months. The company said in July that the Launch Edition had begun shipping and that customers could also preorder and configure its performance and standard models, with initial deliveries of those versions expected to begin in the fall.

Rivian remains closely connected to Also despite the spinout. The automaker retains a minority ownership stake in the company, while Rivian founder and CEO RJ Scaringe serves on Also's board. Also has also continued to leverage Rivian's technology, retail presence and economies of scale.

Prysm Capital's investment reflects its earlier conviction in Rivian and its vertically integrated approach to electric vehicles. The firm sees an opportunity for Also to apply a similar strategy to smaller-form-factor electric vehicles.

For Also, the latest $150 million financing marks another major step toward its longer-term ambition of building autonomous small electric vehicles for both consumers and businesses. The company now faces the challenge of turning its electric vehicle platform and autonomous technology into commercially deployable products while continuing to scale its existing micromobility business.