Rivian spinout Also raises another $150M

Also, a startup that originated within Rivian, has secured an additional $150 million in funding led by Prysm Capital. The fresh capital will help the company move beyond its current lineup of electric bikes and cargo delivery quads into the more ambitious territory of autonomous last-mile delivery vehicles.

Also, a company that spun out of electric vehicle maker Rivian, has closed a $150 million funding round led by Prysm Capital. The investment signals growing confidence in the startup's vision for reimagining urban and suburban delivery through lightweight electric and autonomous vehicles.

Currently, Also makes pedal-assist e-bikes and compact electric cargo quads designed for commercial delivery use. The new funding will allow the company to push further into self-driving delivery technology, a competitive space that has attracted significant attention as retailers and logistics companies search for cost-effective last-mile solutions.

The Rivian connection gives Also a notable pedigree in electric mobility engineering, and the backing of a dedicated growth equity firm like Prysm Capital suggests investors see a credible path from niche electric cargo vehicles to scalable autonomous delivery fleets.

Also, a startup that was incubated inside Rivian before becoming an independent company, has raised another $150 million in a funding round led by Prysm Capital. The capital injection is earmarked for expanding the company's product ambitions well beyond what it currently offers, moving from human-operated electric bikes and small cargo quads into fully autonomous delivery vehicles.

At present, Also occupies a relatively modest corner of the electric mobility market, selling pedal-assist bicycles and compact four-wheeled electric cargo carriers aimed at commercial delivery operators. These products are practical and proven, but the autonomous vehicle segment represents a dramatically larger — and more lucrative — opportunity, particularly as e-commerce volumes continue to climb and labor costs remain a persistent challenge for logistics companies.

The move into autonomous delivery puts Also in competition with a crowded field that includes startups like Nuro, Gatik, and Serve Robotics, as well as larger technology and automotive players experimenting with driverless last-mile solutions. Also's edge, if it has one, may lie in its Rivian heritage — the parent company built a reputation for sophisticated electric vehicle engineering — combined with a product ladder that starts small and scales upward rather than betting everything on complex full-size autonomous trucks from day one.

Why it matters: Last-mile delivery remains one of the most expensive and logistically complex parts of the supply chain, accounting for a disproportionate share of total shipping costs. Autonomous small-vehicle solutions that can operate on sidewalks, bike lanes, or low-speed roads could meaningfully reduce those costs without the regulatory and safety hurdles of full highway-speed autonomous trucks. If Also can translate its electric vehicle expertise into reliable autonomous hardware, it could carve out a significant position in a market that is still largely unsettled.

Prysm Capital's decision to lead the round — rather than a more generalist venture fund — also reflects the maturing nature of the electric and autonomous mobility sector, where specialized growth equity investors are increasingly stepping in as companies transition from early prototypes to commercial-scale operations. The $150 million will likely fund engineering talent, vehicle testing, regulatory approvals, and early commercial deployments.