Rivian Spinoff Also Inc. Raises $200M to Build e-Bikes and Micro-EVs
Rivian spinoff Also Inc. is gaining serious traction in the micromobility space. The startup, which officially spun off from electric vehicle maker Rivian earlier this year, has raised a fresh $200 million in funding led by Greenoaks Capital. This latest investment boosts Also Inc.'s post-money valuation to a staggering $1 billion, highlighting investor confidence in the company’s vision of revolutionizing urban transportation with e-bikes and compact electric vehicles. For those searching for what Rivian’s spinoff is up to and whether it's worth watching, this post offers a full update on its rapid rise, plans for e-mobility innovation, and how it’s reshaping the future of city transport.
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How Rivian Spinoff Also Inc. Came to Life
Also Inc. didn’t appear out of nowhere. The company began as an internal project at Rivian in 2022, codenamed Project Inder. This skunkworks team quietly worked behind the scenes, exploring next-generation transportation alternatives beyond Rivian’s larger electric trucks and SUVs. The project’s ambitions expanded quickly, especially when famed Apple designer Jony Ive’s firm, LoveFrom, joined to help design the company’s first product: an electric bike. That collaboration alone signaled that Rivian’s spinoff was thinking far beyond traditional micromobility concepts. By early 2025, the company formally broke away, armed with $105 million in seed funding from Eclipse Ventures and a clear mission—to build a new class of urban vehicles focused on sustainability, design, and utility.
Also Inc.’s Vision for a New Class of Micro-EVs
With this new $200 million round, Also Inc. is doubling down on building micro-EVs that go beyond e-bikes. These are compact, all-electric vehicles tailored for dense urban settings where traffic, parking, and emissions are growing concerns. While the startup has yet to officially unveil its first models, insiders say the company is working on a product lineup that includes cargo-focused e-trikes, stylish city commuters, and potentially subscription-based mobility solutions. These vehicles are expected to be lightweight, modular, and tech-integrated, aiming to fill the gap between e-bikes and full-sized electric cars. The micromobility market is becoming increasingly competitive, but with its Rivian roots and world-class design partnerships, Also Inc. has a serious edge in both branding and innovation.
Why Investors Are Betting Big on Also Inc.
The micromobility sector is projected to grow into a multi-billion dollar market by 2030, and investors are paying attention to startups that blend solid engineering with user-focused design. Rivian spinoff Also Inc. has checked both boxes. The $200 million from Greenoaks Capital is a strong vote of confidence, especially given the firm’s history of backing high-growth tech companies. Also’s total funding now exceeds $300 million in less than a year, a testament to its ambitious roadmap. The startup is expected to reveal its first vehicle designs later this year, and early whispers hint at sleek, user-friendly electric rides that prioritize urban utility without sacrificing aesthetics. With an experienced founding team, elite design collaborators, and major capital backing, Also Inc. is positioning itself as a standout in the electric mobility space.
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