Also, the micromobility company spun out of Rivian, said on Tuesday that DoorDash has invested in the startup and signed a multi-year commercial agreement to develop autonomous delivery vehicles at scale.
The investment is part of Also‘s $200 million Series C round led by Greenoaks Capital, with participation from Prysm Capital and DoorDash.
The deal also places DoorDash Co-Founder and Head of DoorDash Labs Stanley Tang on Also‘s board as an Observer.
“Last-mile delivery is a physical-world challenge and the details matter, from curb access to making sure an order arrives on time and intact,” Tang — who co-founded the company in 2013 — said.
“Also is building purpose-built EVs that are designed to unlock new ways to meet customers and merchants where they are,” he added.
The round brings Also‘s total funding to approximately $505 million across three rounds since the company was spun out of Rivian in March 2025.
Autonomous Delivery
The DoorDash partnership marks Also‘s second major commercial agreement with a logistics giant, following the multi-year deal with Amazon announced in October to supply thousands of pedal-assist e-cargo quads for delivery fleets across Europe and the United States.
While the Amazon deal focused on human-operated delivery vehicles, the DoorDash agreement is explicitly centred on autonomy — developing and deploying self-driving small EVs for last-mile delivery.
“I couldn’t be more excited to partner with the team at DoorDash to deploy autonomy in areas not yet fully solved for — at the intersection of roadways, bike lanes and road-adjacent spaces,” said Chris Yu, Also‘s Co-Founder and President. “Small autonomous EVs are optimal in these environments and that is what Also is building from the ground up.”
The autonomous angle represents an expansion of Also‘s stated ambitions beyond the pedal-assist vehicles it has unveiled so far.
Tang’s Background
Tang co-founded DoorDash in January 2013 while studying computer science at Stanford University, where he concentrated in human-computer interaction.
Before DoorDash, he spent four months as a software engineer at Facebook in Menlo Park.
He currently leads DoorDash Labs, the company’s division focused on emerging technology and autonomous delivery.
Funding History
Also began as a stealth programme inside Rivian in 2022 under the codename “Project Inder.”
The team explored how Rivian‘s software, electronics, and electric propulsion technology could be adapted to smaller vehicle form factors.
The company was spun out in March 2025 with $105 million in Series B funding from Eclipse, with Rivian‘s founder and CEO RJ Scaringe taking a board seat and Rivian retaining a minority ownership stake.
In July 2025, Greenoaks Capital invested $200 million at a $1 billion post-money valuation.
The fresh $200 million Series C — again led by Greenoaks — indicates the valuation has increased, though Also did not disclose the new figure.
“Also represents exactly the type of company we seek to partner with — one operating at a key inflection point with the potential to reshape a large and evolving market,” said Jay Park, co-founder and managing partner at Prysm Capital.
Product Lineup
Also unveiled its first products in October 2025 at an event in Oakland.
The TM-B is a Class 3 electric bike with a pedal-by-wire drive system — no mechanical gears — offering pedal assistance up to 28 mph and a throttle reaching 20 mph.
The Launch Edition and Performance trims are priced at $4,500, while a Base model has been confirmed at $3,500 for delivery later in 2026.
The bike uses vehicle-grade battery cells from Rivian‘s consumer EVs, with a detachable pack offering up to 60 or 100 miles of range depending on configuration.
The TM-Q is a four-wheel pedal-assist quad designed for bike lanes, available in commercial and consumer variants.
The commercial version — the basis for both the Amazon and DoorDash partnerships — can carry more than 400 pounds and is designed for dense urban delivery environments.
Preorders for premium TM-B trims opened in October, with deliveries expected to begin this spring. Also will sell through its own website and through Rivian retail locations.
The new capital will support product development, manufacturing scale-up, and international expansion.
Also has said it plans to launch first in the United States, followed by Europe, with tailor-made vehicles for Asia and South America to follow.
Rivian’s Spinoff Strategy
Also is one of two companies Rivian has spun out since early 2025.
The second, Mind Robotics, was created in November 2025 to build industrial AI-powered robots using data from Rivian‘s manufacturing operations.
Mind Robotics raised $615 million across a seed round from Eclipse and a Series A co-led by Accel and Andreessen Horowitz, reaching an approximately $2 billion valuation.
