Also, a micromobility startup that emerged from Rivian, has raised $150 million in a Series D funding round led by Prysm Capital. This investment will support the company's shift from pedal-assist electric bikes and cargo quads to the development of autonomous delivery vehicles, utilizing technology from its existing electric architecture.
The company has raised a total of $455 million since its inception less than two years ago. Despite initial delays in launching its e-bike models, Also is now beginning to ship its Launch edition and has opened pre-orders for additional models, with deliveries expected to start in the fall.
Watch for Also's transition from micromobility to autonomous delivery vehicles, leveraging its existing electric architecture. With the Launch edition shipping and pre-orders open, the upcoming fall deliveries could signal a pivotal moment in their market strategy.