Funding accelerates ALSO's mission to bring driven and autonomous small electric vehicles to consumers and businesses worldwide

ALSO, a Palo Alto-based technology company building the world's most capable driven and autonomous small electric vehicles, today announced it has closed a $150 million Series D financing round. The round was led by Prysm Capital, with participation from Eclipse, Greenoaks and MVP Ventures.

The round reflects continued confidence in ALSO's unique product and technology roadmap, execution, and strong commercial partnerships with world class operators including Amazon and DoorDash. New capital will support accelerating the development of ALSO's autonomous vehicle platform and the simultaneous progression of multiple autonomous form factors — spanning the movement of both goods and passengers across urban environments. These vehicles will leverage much of the existing EV architecture already developed by ALSO for its consumer electric bike, TM-B, and commercial electric delivery quad, TM-Q.

“Whether a vehicle is driven or autonomous, the need to solve for congestion and cost per trip doesn’t change. This is exactly why we started ALSO - to deliver well designed, intelligent small vehicles better suited for today’s urban and suburban centers. I am thrilled by the incredible support of our partners and our ability to fast track the development of our autonomous vehicle platform," said Chris Yu, Co-Founder and President of ALSO.

ALSO's TM-B Launch Edition electric bike is beginning to ship to customers across the U.S. In addition, the company recently opened pre-order and configuration access for TM-B Performance and Standard models, with initial deliveries beginning this fall.

Earlier this year, ALSO closed a $200 million Series C financing round led by Greenoaks, with participation from Prysm Capital and a strategic investment from DoorDash. Alongside that round, ALSO and DoorDash entered a multi-year commercial agreement to collaboratively develop and deploy autonomous delivery vehicles at scale.

"We backed Rivian early because we saw the potential behind wonderfully designed, vertically integrated electric trucks, vans and SUVs,” said Jay Park, Co-Founder and Managing Partner at Prysm Capital. “ALSO is applying that same approach to smaller form factor vehicles to address the demands of commercial operators and consumers today. We’re thrilled to partner with RJ, Chris and their world-class team, especially now as ALSO accelerates into autonomous applications.”

About ALSO

ALSO is redefining transportation through intelligent, smaller-than-car electric vehicles built for the movement of people and goods. Originally incubated within Rivian, ALSO EV’s combine vertically integrated hardware and software to deliver purpose-built mobility platforms that are more efficient, adaptable, and better suited to how people and commerce move today. With products spanning driven and autonomous applications, ALSO is helping shape a transportation future with less congestion, lower costs, and lower emissions. Headquartered in Palo Alto, California, the company is expanding across international markets.

About Prysm Capital

Prysm Capital seeks to partner with disruptive, generational companies at the inflection point of accelerated growth. With offices in New York, San Francisco, and Princeton, Prysm provides flexible growth capital to founders building category-defining technology and consumer businesses, including Replit, Island, FieldAI, Fireworks, HappyRobot, Mind Robotics, Clear Street, Rivian, and Fanatics. For more information, visit www.prysmcapital.com.

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Funding accelerates ALSO's mission to bring driven and autonomous small electric vehicles to consumers and businesses worldwide