ALSO has raised a $150 million Series D financing round to accelerate development of its autonomous vehicle platform and expand its lineup of small electric vehicles for moving people and goods. Prysm Capital led the round, with participation from Eclipse, Greenoaks and MVP Ventures.
The financing follows a $200 million Series C completed earlier in 2026, bringing ALSO’s disclosed funding across the two rounds this year to $350 million.
ALSO plans to use the new capital to accelerate development of multiple autonomous vehicle form factors serving urban transportation and delivery applications.
Those vehicles will build on much of the electric vehicle architecture already developed for ALSO’s TM-B consumer electric bike and TM-Q commercial electric delivery quad.
The company is developing both driven and autonomous smaller-than-car electric vehicles to reduce congestion and lower transportation costs in urban and suburban markets.
ALSO was originally incubated within Rivian and has adopted a vertically integrated approach combining hardware and software across its mobility platforms.
The company has also established commercial relationships with major operators including Amazon and DoorDash.
Earlier this year, DoorDash made a strategic investment in ALSO as part of the company’s $200 million Series C.
ALSO and DoorDash simultaneously entered into a multi-year commercial agreement to jointly develop and deploy autonomous delivery vehicles at scale.
The latest financing will allow ALSO to advance that autonomous strategy while simultaneously developing vehicles designed to move both goods and passengers.
The company sees its existing electric vehicle architecture as a foundation that can be adapted across multiple vehicle formats instead of building each mobility platform independently.
ALSO is also beginning commercial deliveries of its first consumer product.
The TM-B Launch Edition electric bike has started shipping to customers across the U.S.
The company has also opened pre-orders and configuration for TM-B Performance and Standard models, with initial deliveries expected to begin this fall.
The company’s broader strategy is based on the view that many urban transportation tasks do not require a conventional passenger car.
ALSO is instead developing smaller electric platforms that can be purpose-built around specific passenger and commercial use cases while incorporating connected software and autonomous capabilities.
Prysm Capital, which was an early investor in Rivian, participated in ALSO’s previous financing and is now leading the Series D.
ALSO is headquartered in Palo Alto and is also expanding into international markets.
KEY QUOTES:
“Whether a vehicle is driven or autonomous, the need to solve for congestion and cost per trip doesn’t change. This is exactly why we started ALSO, to deliver well designed, intelligent small vehicles better suited for today’s urban and suburban centers.”
“I am thrilled by the incredible support of our partners and our ability to fast track the development of our autonomous vehicle platform.”
Chris Yu, Co-Founder and President of ALSO
“We backed Rivian early because we saw the potential behind wonderfully designed, vertically integrated electric trucks, vans and SUVs.”
“ALSO is applying that same approach to smaller form factor vehicles to address the demands of commercial operators and consumers today. We’re thrilled to partner with RJ, Chris and their world-class team, especially now as ALSO accelerates into autonomous applications.”
Jay Park, Co-Founder and Managing Partner at Prysm Capital
