Rivian spinout EV start-up raises $200m in Series C round

Also, an electrical conveyance (EV) startup spun retired of Rivian, has raised $200m successful a Series C round.

The backing circular was led by Greenoaks, with information from DoorDash arsenic a strategical capitalist alongside Prysm Capital.

The institution develops vertically integrated tiny EVs, combining proprietary hardware, bundle and manufacturing to enactment aggregate products built connected a shared platform.

It said the recently secured superior volition beryllium directed towards merchandise development, expanding manufacturing capableness and supporting the planetary rollout of compact EVs designed for some manual and autonomous use.

As portion of the funding, Also has entered into a multi-year commercialized statement with DoorDash focused connected autonomous last-mile delivery.

Under the arrangement, DoorDash co-founder and caput of DoorDash Labs, Stanley Tang, volition articulation Also arsenic a committee observer.

Tang said: “Also is gathering purpose-built EVs that are designed to unlock caller ways to conscionable customers and merchants wherever they are. We are excited to put and spouse with them arsenic we look to standard autonomous delivery.”

The concern volition initially people deployment of autonomous vehicles successful analyzable and underserved environments, including areas wherever roadways intersect with motorcycle lanes and adjacent spaces.

Also precocious unveiled its archetypal products: the TM-B electrical motorcycle and the TM-Q electrical transportation quad, some designed arsenic pedal-assisted EVs.

The institution plans to standard accumulation and grow into planetary markets.

Also co-founder and president Chris Yu added: “I couldn't beryllium much excited to spouse with the squad astatine DoorDash to deploy autonomy successful areas not yet afloat solved for - astatine the intersection of roadways, motorcycle lanes and roadworthy adjacent spaces. Small autonomous EVs are optimal successful these environments and that is what Also is gathering from the crushed up.”

Separately, its genitor institution Rivian has besides been raising capital.

Last month, Uber agreed to put up to $1.25bn successful Rivian, including an archetypal $300m, with the full perchance expanding by 2031 based connected milestones linked to its self-driving technology.

The statement could besides impact Uber purchasing up to 50,000 autonomous vehicles.

In its latest fiscal results, Rivian reported gross nett of $144m for 2025, compared with a gross nonaccomplishment of $1.2bn the erstwhile year.

Its full-year nett nonaccomplishment narrowed to $3.64bn from $4.74bn, portion consolidated gross accrued 8% to $5.38bn.

"Rivian spinout EV start-up raises $200m successful Series C round" was primitively created and published by Just Auto, a GlobalData owned brand.

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