A recent report from Bloomberg News reveals that Also Inc., a micromobility startup that emerged from Rivian earlier this year, has secured a substantial $200 million investment from Greenoaks Capital.
The latest funding round has propelled Also’s post-money valuation to an impressive $1 billion, following a previous $105 million investment from Eclipse Ventures when the startup separated from Rivian.
Originally conceived as Project Inder within Rivian in 2022, Also was initially a skunkworks team before evolving into a standalone entity. Collaborating with renowned design firm LoveFrom, led by Apple’s Jony Ive, the team embarked on creating an e-bike.
Now operating independently, Also aims to diversify its product lineup by introducing a variety of micro-EVs in the near future, with the first designs slated for unveiling later this year.
Both Rivian and Also have yet to comment on the recent developments. TechCrunch will provide updates if there are any responses from the companies.
