Also will speed development of autonomous delivery vehicles after closing a $150 million Series D round, the micromobility startup said. The financing, led by Prysm Capital, included returning investors Eclipse, Greenoaks, and MVP Ventures, and brings Also’s total capital raised to $455 million since the company launched less than two years ago.
The company said the new proceeds will fund work on its autonomous driving software and the simultaneous development of multiple vehicle form factors. Also plans to reuse the electric architecture it built for its consumer TM-B pedal-assist bike and its commercial delivery quad as the basis for those future autonomous platforms, the company said.
Prysm Capital co-founder and managing partner Jay Park framed the investment as an extension of the firm’s early bet on Rivian. “We backed Rivian early because we saw the potential behind wonderfully designed, vertically integrated electric trucks, vans, and SUVs,” Park said. He added that Also is applying a similar vertically integrated approach to smaller vehicle classes.
The fresh round follows a $200 million fundraising a few months earlier, led by Greenoaks, that included Prysm and a strategic investment from DoorDash. That prior deal also included a multiyear commercial agreement with DoorDash to develop and deploy autonomous delivery vehicles, positioning the delivery platform as an early commercial partner for Also’s autonomous efforts.
Also began as an internal project inside Rivian, driven by founder and CEO RJ Scaringe’s interest in micromobility. The team drew engineers and designers from Apple, Google, Specialized, and Tesla, and formally spun out in 2025 with the name Also and an initial $150 million in funding. Rivian remains closely tied to the startup, holding a minority stake while Scaringe sits on Rivian’s board. Also has said it will tap Rivian’s technology, retail presence, and economies of scale as it grows.
Product progress has been uneven. Last October Also unveiled its first consumer vehicle, the $4,500 TM-B two-wheeler, alongside two commercial quad models, one intended for Amazon. The company experienced delays getting its launch-edition e-bike to customers, but now reports that the Launch edition has begun shipping. It has opened preorder and configuration access for its performance and standard models, and says initial deliveries of those models will start in the fall.
With new capital and an explicit roadmap toward autonomous form factors, Also is shifting from product announcements to commercialization and partner deployments. The next months will test whether the company can translate its design and integration strategy into production vehicles and timely deliveries.
