Rivian spin-off Also raises $150M to build mini robotaxis, not just e-bikes

Also, a startup spun out of Rivian, has raised $150 million in a Series D round, pushing its valuation above $1 billion. The company already sells a $3,500 electric bicycle, but its founders say that's just the beginning — the real bet is on a unified platform for any vehicle smaller than a car, from cargo e-bikes to autonomous delivery bots and passenger pods.

CEO and co-founder Chris Yu explained that Also's market is any vehicle smaller than a car. Delivering a toothbrush or a burger doesn't require a 3.5-ton van, and a single passenger doesn't justify an SUV trip. So Also is building a lineup of lightweight machines for moving goods and people, using the same motors, batteries, compute modules, and software across all models. This, Yu argues, creates economies of scale in a price-sensitive segment.

The startup has already signed contracts with Amazon for electric cargo bicycles and with DoorDash to develop autonomous last-mile delivery vehicles. The Series D funds will be used primarily to accelerate self-driving technology development.

Also has grown rapidly. In early 2025, it secured $105 million during its spin-off from Rivian, followed by a $200 million Series C and now a $150 million Series D. Rivian founder RJ Scaringe remains chairman of the board, and Rivian itself holds a minority stake. The partnership allows Also to tap into mileage data from Rivian's fleet to train its autonomous systems.

The launch comes amid a wave of interest in autonomous delivery and micromobility, but Also has not yet disclosed a timeline for bringing its robotaxis to market.