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 Alsos 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 A Technology NewsRoom previously reported.
The team started working on an e-bike and even tapped famed Apple designer Jony Ives 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.Rivian and Also could not be reached for comment.
A Technology NewsRoom will update the article if the companies respond.