Also, Inc., a micromobility startup that spun out of electric vehicle manufacturing company Rivian, secured $200 million in venture funding from Greenoaks Capital, according to reporting by Bloomberg. This round brings Also’s valuation to $1 billion.
The company works to build vertically integrated, small EVs intended to replace many larger vehicle miles with those on more efficient and enjoyable vehicles. The startup began as a stealth organization within Rivian researching how the company’s strength in software, electronics and electric propulsion could be applied across small electric vehicle form factors.
Also is now set to launch its flagship product in 2026. Upon launch, the company will initially focus on serving U.S. and European markets before fueling further commercial and consumer expansion worldwide.
