Rivian Spinoff Also Secures $200 Million to Expand E-Bike Operations
Also, the micromobility startup that emerged from electric vehicle maker Rivian earlier this year, has secured $200 million in fresh funding from Greenoaks Capital. The investment marks a significant milestone for the company as it works to establish itself in the competitive e-bike market.
The funding round positions Also to accelerate production of electric bicycles and expand its product lineup beyond traditional e-bikes. Rivian spun off the micromobility division in 2024 to focus on smaller, urban-focused electric transportation solutions while maintaining its core truck and delivery van business.
Also’s emergence comes as the global e-bike market continues rapid growth, driven by increasing urban congestion and environmental concerns. The company aims to leverage Rivian’s electric vehicle expertise and manufacturing capabilities to create innovative micromobility solutions for city dwellers.
Greenoaks Capital, known for backing high-growth technology companies, led the substantial Series A funding round. The investment firm has previously supported companies across various sectors, including transportation and mobility platforms.
The $200 million injection will reportedly fund manufacturing scale-up, research and development, and market expansion efforts. Also plans to compete with established e-bike manufacturers by offering premium features and integration with broader transportation networks.
This funding announcement signals growing investor confidence in micromobility solutions as cities worldwide seek sustainable transportation alternatives. Also’s connection to Rivian’s proven electric vehicle technology could provide competitive advantages in the crowded e-bike marketplace.
