Rivian Spinoff Also Secures $200M to Accelerate Electric Micromobility Ambitions

Interior view of Rivian Quad – Also Inc.’s micromobility innovation

Also Inc., the newly independent micromobility company spun out from Rivian, has raised an additional $200 million in fresh capital, bringing its valuation to a significant $1 billion milestone. The investment round was led by Greenoaks Capital and follows an earlier $105 million injection from Eclipse Ventures, which marked the company's official debut after separating from Rivian earlier this year.

From Rivian Skunkworks to Billion-Dollar Micromobility Vision

Originally known as Project Inder, Also Inc. began as a stealth initiative within Rivian back in 2022. The team initially focused on designing an advanced e-bike, even bringing in renowned Apple designer Jony Ive and his firm LoveFrom to lend design expertise. The project swiftly evolved and, by early 2025, spun out into its own company with clear ambitions to redefine urban mobility.

With the new investment, Also Inc. is plotting an ambitious roadmap: to develop a diverse range of compact electric vehicles (micro-EVs) catering to modern city needs. The company is expected to unveil its first product designs later in the year, hinting at a future portfolio far beyond e-bikes.

The Bigger Picture: A Micromobility Surge

The surge of interest and capital into Also Inc. reflects a global momentum toward electrified, compact transportation options in urban areas. As cities continue to face congestion, pollution, and the pressure to decarbonize, micro-EVs offer a solution that is flexible, energy-efficient, and increasingly desirable to consumers and city planners alike.

Industry watchers, including those following recent shifts in the EV market, note that startups able to combine design, sustainability, and scale—backed by significant venture capital—have an unusual opportunity to set the tone for urban transport innovation.

Deep Founder Analysis

Why it matters

Rivian’s spinoff of Also and its massive funding round signal a growing recognition that the next phase of electric mobility may be led by smaller, nimbler players rather than automotive giants alone. This democratization of transportation technology is strategically relevant: it opens the field for startups to contribute meaningfully to how cities move and, in some cases, operate essential last-mile and personal mobility infrastructures.

Risks & opportunities

The micromobility sector, while booming, is not without risk. Market saturation, shaky regulatory environments, and high capital demands have tripped up previous entrants. However, the successful formation and funding of Also—a company with design pedigree and manufacturing roots—suggest that strategic differentiation and vertical integration may offer a path to sustainable growth. For example, historical parallels can be drawn to the early days of dockless scooter startups, where rapid expansion sometimes outpaced regulatory and operational maturity; a deep focus on product quality and city partnerships could change that trajectory.

Startup idea or application

Inspired by Also’s journey, a promising startup concept could focus on data-driven urban fleet management for micro-EVs. By providing an AI-powered dashboard for municipalities, delivery startups, or rental fleets, founders could help operators optimize vehicle deployment, maintenance, and energy use—essential for scaling electric transportation in crowded cities.

What’s Next for Also and the Industry?

With high-profile backers and experienced designers, Also Inc. stands out in a field crowded with hopefuls. Its product reveals later this year are likely to influence other startups and established firms alike, setting new expectations for quality and versatility in the micromobility space.

For more on the evolution of the electric vehicle industry and insights into similar startup deals, see our analysis of shifting tides in the EV market and the Rivian-Volkswagen deal, or explore how new unicorn startups are redefining expectations in 2025.

Micromobility Electric Vehicles Fundraising Startups Urban Mobility

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