Also Secures $150 Million to Advance Its Autonomous E‑Bike Platform

Funding Milestone and Investor Backing

Also announced a $150 million Series D financing that will fund the next phase of its autonomous delivery vehicle development.

The round was led by Prysm Capital, with existing backers Eclipse, Greenoaks and MVP Ventures also participating.

Chris Yu, the former Rivian skunkworks leader who now serves as co‑founder and president of Also, secured the new capital.

Rivian founder RJ Scaringe remains a co‑founder, board member and minority shareholder in the spin‑out.

The latest injection brings Also’s total funding to $455 million, combining an earlier $105 million Eclipse financing, a $200 million round and the current $150 million raise.

The $200 million round previously reported a $1 billion post‑money valuation and later added DoorDash as a strategic investor linked to a multiyear commercial agreement.

Prysm Capital’s investment reflects confidence in Scaringe’s track record, as the firm backed Rivian back in 2018 during its stealth phase.

Prysm’s note described Also as an extension of Rivian’s vertically integrated vehicle strategy, applied to smaller machines that operate on roads, curbs and bike lanes.

Platform Strategy and Product Line

Also’s core strategy is to reuse a single electric architecture across multiple vehicle formats, including pedal‑assist bikes, four‑wheel cargo quads and autonomous delivery units.

The TM‑B, a software‑defined pedal‑assist electric bike, serves as the launch edition and is priced at $4,500.

The TM‑Q expands the platform to four wheels, targeting commercial cargo, personal transport and bike‑lane operation where local regulations allow.

Both the TM‑B and TM‑Q share the same battery system and software stack, a design choice meant to streamline engineering and reduce costs.

Yu’s bet hinges on this architecture, believing that one platform can support several vehicle types without sacrificing performance.

Also claims the Series D will accelerate autonomous‑driving development and enable multiple autonomous vehicle formats to progress simultaneously.

Commercial Partnerships and Future Outlook

Amazon has agreed to purchase thousands of customized TM‑Q cargo vehicles for its delivery operations.

Also states that the quads can carry more than 400 pounds of packages while remaining compact enough for bike‑lane environments.

The partnership with Amazon provides a clear commercial pipeline that extends the platform beyond consumer‑focused designs.

DoorDash’s earlier strategic investment ties the spin‑out to a potential multiyear logistics collaboration, further diversifying its commercial customer base.

Yu’s personal inspiration for the venture traces back to an April 2025 post describing a daily school run on a small vehicle and the desire to stay present outside a car.

That anecdote evolved into a broader thesis that short journeys merit purpose‑built electric vehicles rather than scaled‑down automotive compromises.

While Also has yet to demonstrate that Rivian’s vertically integrated formula can be replicated at lower price points, the funding and partnerships suggest strong market interest.

Investors are banking on a repeatable industrial playbook that leverages software, battery systems and in‑house engineering across diverse products.

The success of this approach could validate the notion that a unified architecture can serve both consumer mobility and urban logistics markets.

Why This Matters: The $150 million infusion equips Also to scale its shared‑architecture vehicles, positioning the company to meet growing demand for electric, autonomous delivery solutions in urban settings.