Also, an electric micromobility startup spun out of Rivian Automotive, has raised $200 million in a Series C funding round, reaching a $1 billion valuation as it deepens its push into autonomous delivery through a strategic partnership with DoorDash.
The Palo Alto-based company said the financing was led by Greenoaks, with participation from Prysm Capital and DoorDash. The partnership includes both an investment from DoorDash and a multi-year commercial agreement to develop and deploy autonomous delivery vehicles at scale.
As part of the collaboration, DoorDash Co-Founder and Head of DoorDash Labs Stanley Tang will join Also as a board observer. The companies aim to focus on last-mile delivery solutions using small electric vehicles designed to operate across roadways, bike lanes, and adjacent urban environments.
Also plans to use the new capital to accelerate product development, manufacturing, and global deployment of its small electric vehicles for both human transport and goods delivery. The company recently introduced its first products, including the TM-B electric bike and TM-Q electric delivery quad, with plans to scale production and expand internationally.
Originally incubated within Rivian, Also combines in-house hardware, software, and manufacturing capabilities to build vertically integrated electric micromobility platforms. The company is targeting global markets with vehicles designed for both manual and autonomous operation, with initial U.S. deliveries expected in 2026 followed by international expansion.
KEY QUOTES:
“I couldn’t be more excited to partner with the team at DoorDash to deploy autonomy in areas not yet fully solved for – at the intersection of roadways, bike lanes and road adjacent spaces. Small autonomous EVs are optimal in these environments and that is what ALSO is building from the ground up. The new capital will support ALSO’s continued investment in product development, manufacturing, and global deployment of the world’s best small vehicles for the movement of people and goods, driven or autonomous.”
Chris Yu, Co-Founder And President Of Also
“Last-mile delivery is a physical-world challenge and the details matter, from curb access to making sure an order arrives on time and intact. ALSO is building purpose-built EVs that are designed to unlock new ways to meet customers and merchants where they are. We’re excited to invest and partner with them as we look to scale autonomous delivery.”
Stanley Tang, Co-Founder And Head Of DoorDash Labs At DoorDash
“ALSO represents exactly the type of company we seek to partner with—one operating at a key inflection point with the potential to reshape a large and evolving market. We believe the team, product vision, and timing position ALSO to lead the next wave of innovation in global electric transportation.”
Jay Park, Co-Founder And Managing Partner At Prysm Capital
