Also Inc., a micromobility startup, secured $200 million in funding from Greenoaks Capital, as reported by Bloomberg.
This investment elevates Also’s post-money valuation to $1 billion. The company, which originated as a spin-off from Rivian earlier this year, had previously raised $105 million from Eclipse Ventures.
Also Inc. began as an internal project at Rivian in 2022, operating under the codename Project Inder. This team initially focused on developing an e-bike, engaging LoveFrom, the design firm founded by Jony Ive, to contribute to the project. The establishment of Also as an independent entity marks its transition from an internal initiative to a standalone company.
The company’s strategic objective is to develop and manufacture a diverse range of micro-EVs. Also Inc. anticipates revealing its initial product designs later this year. Neither Rivian nor Also Inc. provided immediate comment regarding the funding or future plans.
