--- title: "Why Did Rivian Spinout ALSO Raise Another $150M?" description: "ALSO, the Rivian micromobility spinout, closed a $150M Series D on August 19, 2026, led by Prysm Capital. Cumulative funding is about $455M. No valuation was disclosed. Launch-edition e-bikes are only now shipping." date: 2026-08-19T00:00:00.000Z tags: ["2026-vc-news", "startup-funding", "venture-capital", "climate-tech", "robotics"] source: https://venturecapitaltracker.com/2026-also-150m-series-d-rivian-spinout --- # Why Did Rivian Spinout ALSO Raise Another $150M? > ALSO, the Rivian micromobility spinout, closed a $150M Series D on August 19, 2026, led by Prysm Capital. Cumulative funding is about $455M. No valuation was disclosed. Launch-edition e-bikes are only now shipping. **ALSO raised $150 million Series D** on **August 19, 2026**, led by **Prysm Capital**. TechCrunch puts total funding at about **$455 million** in less than two years. **No valuation was disclosed.** **Unexpected truth:** this is **not** [ALSO Holding AG](https://www.also.com/) (SIX: ALSN), the European distributor. This ALSO is the **Rivian micromobility spinout** at [ridealso.com](https://ridealso.com/). The launch-edition **TM-B is only now shipping** after delays — and the new money is aimed at **autonomy**, not just bikes. This page is for people deciding whether ALSO (or small-form-factor delivery EVs) is worth another hour. Last verified **August 20, 2026**. We do not have a company Series D post; facts below are TechCrunch plus the 2025 launch PR. ## Five-minute decision | If you need… | Verdict | | --- | --- | | What happened | **Funded.** $150M Series D, Prysm lead, Aug 19, 2026. ~$455M cumulative (TechCrunch). | | What ALSO is | Rivian-born **small EVs** (TM-B bike, TM-Q quad) moving into **autonomous delivery**. | | Whether it is “shipping” | **Launch edition beginning to ship** (company via TechCrunch). Other models: fall. Autonomy: in development. | | Whether to diligence | **Yes**, if you underwrite DoorDash/Amazon paths on a shared architecture. **No**, if you need a disclosed valuation or bike-unit economics first. | **Investigate further when:** you believe one electric architecture across bike, quad, and robotaxi-scale delivery is the scarce asset. **Wait or pass when:** delayed consumer hardware is a hard stop, or you think full-size vans already occupy last-mile autonomy spend. ## What happened | Field | Detail | | --- | --- | | Company | ALSO ([ridealso.com](https://ridealso.com/)); Palo Alto; spun out of Rivian in 2025 | | Round | **$150M Series D** (TechCrunch, Aug 19, 2026) | | Lead | Prysm Capital (no `/fund/` page here) | | Participants | Eclipse, Greenoaks, MVP Ventures (none in our directory) | | Cumulative | **~$455M** since founding (TechCrunch) | | Valuation | **Not disclosed** | | Use of proceeds | Accelerate autonomous driving tech; multiple autonomous form factors on the same architecture | | Prior | **$200M** round a few months earlier, Greenoaks-led, with Prysm and **DoorDash** strategic + multiyear AV agreement | | Spinout | 2025, with **$150M** (TechCrunch this week). Oct 2025 launch PR is the product debut. | **Rivian tie:** minority stake; **RJ Scaringe** on the board; retail/tech leverage described in prior coverage. ALSO is independent. ## What ALSO actually does **Product (2025 launch PR + company site):** - **TM-B** — pedal-assist electric bike. Launch PR listed a **$4,500** two-wheeler; TechCrunch this week says the launch edition was delayed for months and is **beginning to ship**, with performance/standard models opening preorder and fall delivery. - **TM-Q** — four-wheel pedal-assist quad for cargo and consumers. Amazon: multi-year collaboration for thousands of commercial quads (TechCrunch, Oct 2025). - **Autonomy** — this Series D’s stated job. Future vehicles share the bike/quad electric architecture. **Job:** move people and packages on **short local trips** with vehicles smaller than a car, then make some of those vehicles **driverless**. ## How big is ALSO actually? | Question | Disclosed? | What we have | | --- | --- | --- | | Series D size | **Yes (press)** | **$150M** (TechCrunch) | | Valuation | **No** | Do not invent one | | Cumulative | **Press** | **~$455M** (TechCrunch: ~$305M after the prior round + $150M) | | Revenue / deliveries | **No dollars** | Launch edition **beginning to ship**; other models **fall** | | Amazon | **Prior** | Thousands of TM-Q (Oct 2025 TechCrunch); not restated as a 2026 unit update here | | DoorDash | **Prior round** | Strategic check + multiyear autonomy agreement | | Independence | **Yes** | Spinout; Rivian minority + Scaringe board seat | **No valuation is the headline after the $150 million.** Treat ~$455M as TechCrunch’s cumulative, not a reconstructed cap table. ## Worked numbers (indicative) 1. **Setup:** 2025 spinout with **$150M**. Oct 22, 2025 — TM-B / TM-Q launch; Amazon commercial quad deal. 2. **Move:** Early 2026 — **$200M** (Greenoaks; DoorDash). Aug 19 — **$150M D** (Prysm) for autonomy. 3. **Punch:** **~$455M** into a company whose consumer bike **just started shipping**. That is a **hardware + AV** burn shape, not a SaaS round. Same-day tape: [Castelion](/startup/castelion) printed **$13B**. Different category. Both are **physical** companies raising because software-only checks are not the whole August book. ## ALSO vs Rivian — what differs | | ALSO (this company) | Rivian | | --- | --- | --- | | Product | Bike + quad + planned **small autonomous** vehicles | Full-size electric **trucks/vans/SUVs** | | Status | Private spinout | Public automaker; **minority owner** of ALSO | | This week’s check | **$150M D**, Prysm | Not this round | | Website | [ridealso.com](https://ridealso.com/) | rivian.com | | Name collision | Not **ALSO Holding AG** (also.com, SIX: ALSN) | n/a | Choose ALSO when you are underwriting **sub-car electric + delivery autonomy**. Choose Rivian when you are underwriting **full-size EVs**. Do not paste also.com filings into this memo. ALSO vs [Gravis](/startup/gravis-robotics): Gravis retrofits **excavators** ($200M SoftBank A, Aug 17). ALSO builds **new small street vehicles**. Same “physical AI” week, different buyers. ## Why investors likely wrote $150M ### Known evidence (TechCrunch + 2025 PR) - Named commercial path: **Amazon** quads (2025). - Named AV path: **DoorDash** multiyear agreement from the prior round. - Shared architecture across form factors (company). - Prysm: same vertically integrated thesis as early Rivian, applied to smaller vehicles. ### Our interpretation (not an IC memo) | Bet | Why it could justify another $150M | | --- | --- | | Fleet customers exist | Amazon + DoorDash are not hypothetical logos | | One architecture | Bike/quad/AV share powertrain — cheaper than three OEMs | | Rivian residual | Retail, manufacturing know-how, Scaringe on the board | **What we cannot claim:** TM-B attach rate, quad deliveries, or autonomy timeline beyond “accelerate development.” ## What has to be true for ALSO to win 1. Launch-edition shipping becomes **repeatable volume**, not a one-week PR. 2. Autonomy on the bike/quad architecture actually **clears safety** for delivery. 3. DoorDash and Amazon convert agreements into **deployed vehicles**. 4. Consumer TM-B delays do not poison the **commercial** story. ## What could break the thesis - Hardware delays continue while **$455M** burns. - Autonomy spend turns the Series D into a **science project**. - Full-size EV makers (including Rivian) take last-mile themselves. - Name collision with ALSO Holding AG pollutes search and filings. ## When not to use this page - Do not file this under **ALSO Holding AG** / ALSN. - Do not invent a **valuation**. - Do not invent `/fund/` pages for Prysm, Eclipse, Greenoaks, or MVP. - Do not treat Oct 2025 Amazon “thousands” as an August 2026 delivery confirmation. ## Where to go next Same-day defense print: [Castelion $13B](/2026-castelion-1b-series-c-13b-hypersonics). Physical-AI week: [Gravis $200M](/2026-gravis-robotics-200m-series-a-softbank). Month tape: [August 2026 VC news](/2026-august-vc-news). Entity: [ALSO](/startup/also-mobility).