Micromobility startup Also secures $150 million to fuel autonomy

The investment underscores investor confidence in the company’s vertically integrated approach, mirroring the strategy that propelled its parent company, Rivian. Prysm Capital managing partner Jay Park noted that the firm sees the same potential in Also’s smaller form factors that it once identified in Rivian’s electric truck and SUV lineup. Current backers Eclipse, Greenoaks, and MVP Ventures also participated in the round.

Capital will be directed toward scaling the autonomous driving stack while leveraging the existing electric architecture from the startup’s pedal-assist bikes and cargo quads. This roadmap aligns with a commercial agreement signed with DoorDash earlier this year, which focuses on deploying autonomous delivery fleets. Despite operating independently, the company retains close ties to its origins; CEO RJ Scaringe sits on the board, and the startup continues to share technology and scale with the automaker.

Operational challenges have persisted, notably with the delayed rollout of the TM-B e-bike. However, the company confirmed that its Launch edition is finally reaching customers. Configuration access for performance and standard models has opened, with deliveries slated for this fall.