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Rivian spinout Also raises another $150 million
Also, a spinout from Rivian, has secured an additional $150 million in funding to advance its autonomous delivery vehicle technology. The Series D round was led by Prysm Capital, marking a total raise of $455 million since its inception. The fresh capital will accelerate development using the existing electric architecture from its other vehicles, reflecting a focus on micromobility and autonomous tech growth.
Key points
- Also raised $150 million in Series D funding led by Prysm Capital.
- Total funding since its founding is now $455 million.
- Funds will be used to develop autonomous delivery vehicles and other autonomous transport types.
- Also started as a project within Rivian and has connections to major tech companies.
- Rivian retains a minority stake in Also, and RJ Scaringe is on Also's board.
- The company aims to leverage Rivian’s technology and resources for growth.
- Also's first products include a two-wheeler and quad vehicles, with initial deliveries starting soon.
Why it matters
- This funding aligns with the growing trend of micromobility solutions, especially in urban environments.
- The interest in autonomous delivery aligns with the increasing demand for e-commerce logistics solutions, especially post-COVID.
- In 2025, advancements in electric mobility technologies and autonomous systems are key trends influencing transportation startups.
Also's substantial funding success highlights the increasing focus on autonomous micromobility solutions, pointing towards a transformative future in logistics and urban transport fueled by innovation and strategic partnerships.