Rivian Spinoff Raises $200M for E-Bikes & Micro-Mobility

Also Inc. Secures $200 Million in New Funding

Also Inc., a micromobility company that originated as a spin-off from Rivian, has successfully raised $200 million in a new investment round led by Greenoaks Capital, as reported by Bloomberg News.

Valuation and Previous Funding

This recent funding has resulted in a post-money valuation of $1 billion for Also. Prior to this, the startup secured $105 million in funding from Eclipse earlier in the year, coinciding with its separation from Rivian.

Origins within Rivian

Also’s beginnings can be traced back to 2022, when it functioned as an internal “skunkworks” team within Rivian, initially known as Project Inder. The team’s initial focus was the development of an electric bicycle.

Notably, the project benefited from the expertise of LoveFrom, the design firm founded by Jony Ive, a well-known designer from Apple.

Future Plans and Product Development

Now operating as an independent entity, Also intends to manufacture a diverse range of micro-electric vehicles (micro-EVs) in various forms. The unveiling of the first vehicle designs is anticipated later this year.

Contact Attempts

Representatives from both Rivian and Also were unavailable for comment regarding this funding announcement. TechCrunch will provide updates should either company respond to inquiries.