Also Raises $150M for Autonomous Urban Mobility Solutions

Also Inc., a nimble electric vehicle innovator that emerged from Rivian Automotive Inc., has successfully closed a $150 million Series D funding round. This significant capital infusion is earmarked to accelerate the development and deployment of its autonomous driving capabilities across a range of compact electric vehicle formats. The company, which aims to tackle urban and suburban transportation challenges, is leveraging its existing electric architecture to build out these advanced mobility solutions.

The strategic investment was spearheaded by Prysm Capital LP, a firm with a history of backing Also and its former parent, Rivian. Additional participation came from notable venture capital firms including Eclipse Ventures, Greenoaks Capital Partners, and MVP Ventures. This latest funding brings Also's total capital raised since its spin-off in March 2025 to $455 million, underscoring strong investor confidence in its vision for efficient, autonomous urban transport.

Also's focus on smaller, purpose-built vehicles addresses a growing need for cost-effective and sustainable last-mile delivery and personal mobility solutions. The company's initial product, the TM-B pedal-assist two-wheeler, began shipping to consumers in July at $4,500. However, the real volume potential is seen in its commercial offerings, such as the TM-Q four-wheeled quad, designed for bike lanes and capable of carrying over 400 pounds. Strategic partnerships, including an agreement with Amazon.com Inc. for thousands of customized quads and a multiyear collaboration with DoorDash Inc. to develop autonomous delivery vehicles, highlight the commercial traction Also is achieving.

The DoorDash partnership, disclosed alongside a $200 million round that valued Also at approximately $1 billion, signifies a key step towards realizing the company's autonomous delivery ambitions. By integrating advanced self-driving technology into its compact EV platform, Also aims to reduce operational costs and improve efficiency for delivery services, a sector experiencing intense pressure to innovate. This aligns with the broader trend in the logistics industry towards automation and electrification to meet increasing demand and sustainability goals.

Chris Yu, co-founder and president of Also, emphasized the company's founding principle: addressing congestion and trip costs, regardless of whether a vehicle is manually operated or autonomous. His background, including leading future programs at Rivian and serving as CTO at Specialized Bicycle Components Inc., provides a strong foundation for the company's product development and strategic direction. The involvement of Rivian CEO RJ Scaringe as a co-founder and board member further solidifies the connection to cutting-edge electric vehicle engineering.

The market for micro-mobility and autonomous delivery solutions is experiencing rapid expansion, driven by e-commerce growth and urban population density. Companies like Also are positioning themselves to capture a significant share by offering specialized, cost-efficient vehicles. The successful closing of this $150 million round will enable Also to scale its operations, refine its autonomous technology, and expand its market reach, potentially setting new benchmarks for urban logistics and personal transport.