Also Raises $200M for Autonomous Delivery Vehicles

Also, a specialized autonomous delivery vehicle developer that originated within Rivian, has successfully closed a $200 million Series C funding round. The investment was spearheaded by Greenoaks Capital, with a significant strategic contribution from DoorDash. This latest infusion of capital propels Also's total funding beyond the $500 million mark and establishes the company's valuation at a substantial $1 billion, officially conferring unicorn status.

The partnership with DoorDash extends beyond a financial investment, encompassing a multi-year commercial agreement. This accord is designed to facilitate the widespread deployment of Also's autonomous delivery vehicles for last-mile logistics. As part of the strategic alignment, DoorDash will also gain a seat on Also's board of directors, signaling a deep commitment to the venture.

Also, which was incubated inside the electric vehicle manufacturer Rivian before spinning out, is focused on creating purpose-built electric autonomous delivery vehicles. The company designs and manufactures its own proprietary hardware, including its distinctive quad-cargo autonomous delivery vehicle, tailored for commercial use in urban environments. This vertical integration allows for greater control over the technology and deployment process.

The strategic alliance with DoorDash is structured to accelerate the adoption of autonomous technology in the food and package delivery sector. This collaboration is expected to significantly enhance delivery efficiency and reduce operational costs for both companies. The funds raised will be instrumental in scaling Also's production capabilities, further refining its autonomous driving systems, and executing the ambitious deployment plan with DoorDash.

The micromobility and autonomous delivery sector is experiencing rapid evolution, driven by increasing consumer demand for faster and more cost-effective delivery services. Companies like Also are at the forefront of this transformation, leveraging advanced robotics and artificial intelligence to address the complexities of urban logistics. The market for autonomous delivery solutions is projected to grow substantially in the coming years, with estimates suggesting a multi-billion dollar opportunity.

This funding round positions Also to capitalize on the growing demand for efficient, automated delivery solutions. The validation from prominent investors like Greenoaks Capital and the strategic partnership with a major player like DoorDash underscore the significant potential of Also's technology and business model. The company's ability to manufacture its own vehicles and develop its own autonomous software provides a competitive edge in a rapidly advancing field.