Rivian Spinoff Also Raises $200 Million to Expand Micro-EV Offerings
Jul 9, 2025

Rivian Spinoff Also Raises $200 Million to Expand Micro-EV Offerings

AI-summarised brief · reviewed before publication

Also Inc., a micromobility startup that was spun out of electric vehicle manufacturer Rivian earlier this year, has raised $200 million in funding from Greenoaks Capital, according to a report from Bloomberg News. This new funding round brings Also's post-money valuation to $1 billion. This is not the first investment for the startup, which raised $105 million from Eclipse Ventures earlier this year when it was separated from Rivian. Also originated as a skunkworks team within Rivian in 2022, known as Project Inder. The team began working on an e-bike project, partnering with famed Apple designer Jony Ive's firm LoveFrom to assist with the design. Now established as its own company, Also plans to develop micro-EVs of various shapes and sizes. The startup is expected to unveil its first designs later this year.