Also has raised $150 million in a Series D round as the Rivian spinout expands beyond electric bikes and commercial cargo quads into autonomous vehicles. The latest financing brings the Palo Alto-based company’s total funding to $455 million less than two years after its founding.
Prysm Capital led the round, with existing investors Eclipse, Greenoaks, and MVP Ventures also participating. According to the company’s funding announcement, the capital will support its autonomous vehicle platform and multiple autonomous vehicle designs for moving goods and passengers.
Also plans to use the same electric vehicle architecture developed for its consumer pedal-assist bike and commercial delivery quad across the new autonomous products.
Also Is Expanding Its Autonomous Delivery Business
The funding follows a $200 million Series C raised earlier in 2026, led by Greenoaks with participation from Prysm Capital and a strategic investment from DoorDash. That financing included a multiyear agreement for Also and DoorDash to develop and deploy autonomous delivery vehicles.
Prysm Capital co-founder and managing partner Jay Park said the investment reflects some of the same qualities that led the firm to back Rivian early, including vertically integrated electric vehicle development.
Also began as a project inside Rivian focused on applying the automaker’s software, electronics, and electric propulsion technology to smaller vehicles. The team included people from companies such as Apple, Google, Specialized, and Tesla before the business became an independent company in 2025.
Rivian continues to hold a minority stake in Also, while Rivian founder and CEO RJ Scaringe serves on its board. Also has said it can also use Rivian’s technology, retail presence, and economies of scale as it grows.
TM-B Deliveries Begin After Earlier Delays
Also introduced its first products in October 2025, including the $4,500 TM-B two-wheeler and two TM-Q quad vehicles. One of the commercial quad models is being supplied to Amazon.
The company experienced delays getting the TM-B to customers, but its Launch Edition has now begun shipping. Also has also opened preorders and configuration access for its standard and performance models, with initial deliveries scheduled for the fall.
The Series D will support the company as it develops autonomous vehicles alongside those existing products. Also says its technology platform covers motors, batteries, electronics, software, sensing, and autonomous systems for small electric vehicles.
Featured image credits: Wikimedia Commons
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