Also, the micromobility startup that spun out of Rivian last year, has raised another $150 million in a Series D funding round led by Prysm Capital. This fresh funding brings the company’s total funding to $455 million since its founding less than two years ago.

The new capital will be used to accelerate the development of Also’s autonomous driving technology and the simultaneous progression of multiple autonomous form factors, according to the company. These future vehicles will use the same electric architecture developed for its consumer electric pedal-assist bike and commercial electric delivery quad.

Rivian’s spinout, Also, began as a skunkworks project within Rivian, driven by founder and CEO RJ Scaringe’s interest in micromobility. The team, which pulled in people from Apple, Google, Specialized, and Tesla, evolved into a startup and spun out of Rivian in 2025 armed with the name Also and $150 million in funding.

While Also is increasingly focused on autonomous vehicle tech, that’s not where it started. The company has previously said it will leverage Rivian’s tech, retail presence, and economies of scale as it grows. Rivian holds a minority stake in Also, and Scaringe serves on its board.

Also has struggled to get its ebike into customers’ hands and its launch edition was delayed for months. The company said the Launch edition is now beginning to ship to customers and has opened up the pre-order and configuration access to its performance and standard models. Initial deliveries of these other models will begin in fall.

The Series D round also included existing backers Eclipse, Greenoaks, and MVP Ventures. Prysm Capital co-founder and managing partner Jay Park said the firm is backing Also for the same reason it was an early investor in Rivian.

"We backed Rivian early because we saw the potential behind wonderfully designed, vertically integrated electric trucks, vans, and SUVs," Park said, adding that Also is applying that same approach to smaller form factor vehicles.

Prysm Capital’s investment in Also is a strategic move, as the firm sees the potential for autonomous delivery vehicles to revolutionize the logistics industry. With this fresh funding, Also is well-positioned to accelerate its development and bring its vision to life.

Also’s focus on autonomous delivery vehicles is a significant shift from its initial product offerings, which included a $4,500 two-wheeler called the TM-B and two quad vehicles. The company has also partnered with DoorDash to develop and deploy autonomous delivery vehicles, as part of a multi-year commercial agreement.