Rivian Spinoff Also Raises Another $200m To Build E-bikes And More

Also Inc., nan micromobility startup spun retired of Rivian earlier this year, has raised $200 cardinal from Greenoaks Capital, according to a new study from Bloomberg News.

The backing information brings Also’s post-money valuation to $1 billion. The startup raised $105 cardinal from Eclipse Ventures earlier this twelvemonth erstwhile it was cleaved from Rivian.

Also started arsenic a skunkworks squad wrong Rivian successful 2022 known arsenic Project Inder, arsenic TechCrunch antecedently reported. The squad started moving connected an e-bike and moreover tapped famed Apple designer Jony Ive’s patient LoveFrom to help pinch nan project.

Now established arsenic its ain company, Also plans to make micro-EVs of each shapes and sizes, and is expected to uncover nan first designs astatine immoderate constituent later this year.

Rivian and Also could not beryllium reached for comment. TechCrunch will update nan article if nan companies respond.