Also raises $150 million to expand autonomous delivery vehicles
Also, the micromobility startup spun out of Rivian in 2025, has raised $150 million in a Series D led by Prysm Capital. Existing investors Eclipse, Greenoaks and MVP Ventures also participated. The round brings Also’s total funding to $455 million in less than two years.
The company said the new capital will accelerate development of its autonomous-driving technology and support the simultaneous progression of multiple autonomous vehicle form factors. Also is expanding beyond pedal-assist electric bikes and commercial cargo quads into autonomous delivery vehicles.
Funding supports a shared electric architecture
Future autonomous vehicles will use the same electric architecture that Also developed for its consumer pedal-assist bike and commercial electric delivery quad. Prysm Capital co-founder and managing partner Jay Park said the firm saw a comparable opportunity to its early Rivian investment: vertically integrated, well-designed electric vehicles in smaller formats.
The latest financing follows a $200 million round led by Greenoaks a few months earlier. Prysm Capital participated in that round, alongside a strategic investment from DoorDash. DoorDash also signed a multi-year commercial agreement with Also to develop and deploy autonomous delivery vehicles.
Rivian remains connected to the business
Also began as a skunkworks project inside Rivian, driven by founder and CEO RJ Scaringe’s interest in micromobility. The team included talent from Apple, Google, Specialized and Tesla before it became an independent company with $150 million in initial funding.
Rivian retains a minority stake in Also, and Scaringe sits on its board. The startup has said it intends to use Rivian’s technology, retail presence and economies of scale as it grows. At Rivian autonomy plans at Disrupt 2026, Scaringe’s planned Disrupt 2026 appearance will address R2, robots and autonomy, areas that also frame Rivian’s continuing technology agenda.
Product deliveries are beginning
In October, Also unveiled the $4,500 TM-B two-wheeler and two quad vehicles, including one intended for Amazon. Its TM-B Launch Edition was delayed for months, but the company now says shipments are beginning. Pre-order and configuration access has opened for the performance and standard models, whose initial deliveries are expected in fall.
For businesses evaluating electric delivery platforms, Also’s funding and commercial agreements signal continued investment in autonomous formats, while its delivery schedule underlines the need to distinguish announced products from vehicles already reaching customers.