Rivian spinoff Also raises another $200M to build e-bikes and more

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Also Inc., the micromobility startup spun out of Rivian earlier this year, has raised $200 million from Greenoaks Capital, according to a new report from Bloomberg News.

The funding round brings Also’s post-money valuation to $1 billion. The startup raised $105 million from Eclipse Ventures earlier this year when it was cleaved from Rivian.

Also started as a skunkworks team inside Rivian in 2022 known as Project Inder, as TechCrunch previously reported. The team started working on an e-bike and even tapped famed Apple designer Jony Ive’s firm LoveFrom to help with the project.

Now established as its own company, Also plans to make micro-EVs of all shapes and sizes and is supposed to reveal the first designs at some point later this year.

Source: TechCrunch