Also’s $150 Million Series D Turns Rivian’s E-Bike Spinout Into an Autonomy Bet

Also is a micromobility startup that began inside Rivian and is now pursuing a larger ambition: small electric vehicles that can operate autonomously for consumers and delivery businesses. Its latest $150 million Series D, led by Prysm Capital, brings the company’s total funding to $455 million and puts autonomous driving at the center of its next phase. 11

The company’s visible product is an electric bike. Its strategic value, however, may be the underlying vehicle platform that Also hopes to reuse across several types of urban transportation.

What Also is building

Also develops compact electric vehicles for both individual riders and commercial operators. Its product lineup includes the pedal-assist TM-B two-wheeler and the TM-Q commercial delivery quad, with the company also working toward autonomous versions and additional vehicle forms. 11

That makes Also different from a conventional premium e-bike maker. The e-bike and cargo quad are being used as starting points for a broader small-EV system covering both driven and autonomous vehicles. The company says its autonomous platform is intended to support multiple form factors for moving goods and passengers in urban environments. 11

Why the Series D matters

Prysm Capital led the Series D, while existing investors Eclipse, Greenoaks, and MVP Ventures also participated. The financing takes Also’s reported cumulative funding to $455 million. 11

According to the company’s funding announcement, the new capital will accelerate autonomous-driving development and allow Also to advance multiple autonomous vehicle formats at the same time. Those vehicles will build on the electric architecture already developed for the TM-B and TM-Q. 11

That funding emphasis is the clearest signal of Also’s strategy: the bike is an early commercial product, but autonomy is the larger investment thesis.

How the DoorDash financing fits in

The Series D follows a $200 million financing led by Greenoaks that included Prysm Capital and a strategic investment from DoorDash. That earlier financing was tied to a multiyear agreement to develop and deploy autonomous delivery vehicles. 11

The relationship gives Also a potential commercial route for its autonomous technology. Instead of developing vehicles without a defined operating use case, the company can design around delivery requirements while continuing to develop a wider platform for other urban applications.

The supplied reporting identifies Amazon as another target for Also’s commercial quad program, with one of the unveiled quad vehicles intended for Amazon. 11

The common-platform strategy

Also’s core idea is to use a shared set of electric-vehicle components across multiple products. Motors, batteries, computing, software, and other underlying systems can support different vehicle bodies and operating modes, according to reporting on the company’s platform. 8

In principle, this approach could let Also reuse engineering and manufacturing work rather than designing every vehicle from scratch. It also gives the company a way to adapt the same basic technology to consumer riding, commercial cargo transport, and autonomous delivery.

That is why the company’s e-bike should be viewed as more than a standalone retail product. It is also a test of the hardware, software, supply chain, and production processes needed for the larger autonomous-vehicle plan.

Rivian’s continuing connection

Also originated as an RJ Scaringe-backed skunkworks project inside Rivian before becoming an independent company in 2025. The project drew talent from companies including Apple, Google, Specialized, and Tesla. 11

The startup is independent, but Rivian remains involved through a minority stake and Scaringe’s board role. Also has said it can draw on Rivian technology, retail presence, and scale-related advantages. 11

That connection gives Also a notable foundation in vehicle engineering and manufacturing. It also explains why investors may view the company as more than a new e-bike brand: its origins are tied to an electric-vehicle manufacturer, while its current financing is directed toward autonomy.

Product status: an early test of the thesis

Also unveiled the $4,500 TM-B two-wheeler and two commercial quad vehicles in 2025. Reporting says the Launch Edition was delayed by months but has begun shipping, while Performance and Standard versions have been available for preorder or configuration. 13

The product rollout remains important because the company’s platform strategy depends on turning engineering concepts into reliable, commercially produced vehicles. The supplied reporting also contains differing TM-B price references, including $3,500 and $4,500, so the exact price depends on the edition or source being cited. 18

The bottom line

Also’s $150 million Series D is best understood as an autonomy financing round wrapped around a micromobility business. The company is using e-bikes and cargo quads to establish a common electric architecture, then extending that architecture toward autonomous delivery vehicles and other small urban EVs. 11

The opportunity is platform reuse: one technical foundation could serve consumers, delivery operators, and eventually multiple autonomous vehicle categories. The risk is execution. Also must scale its first products, prove that the shared architecture works across different use cases, and turn commercial agreements into deployed autonomous vehicles.

For now, the strongest description of Also is not “an e-bike company.” It is a Rivian-derived small-EV platform attempting to use micromobility products as the path toward autonomous urban transportation.