Rivian Spinoff Also Hits $1B Valuation, Partners With DoorDash

Also, an electric bike startup spun out of Rivian Automotive, has secured a $1 billion valuation in its latest funding round. The Palo Alto-based company raised $200 million led by Greenoaks Capital, with DoorDash and Prysm also participating as investors. Key Details Also develops premium e-bikes for consumers and four-wheeled electric vehicles for commercial delivery operations. The company's vehicles feature pedal-by-wire drive systems where pedaling powers a generator that feeds the battery, with software controlling torque and speed. The TM-B consumer e-bike has completed manufacturing validation with deliveries expected to early customers in late spring. Why It Matters The partnership with DoorDash represents a significant move into autonomous last-mile delivery. DoorDash co-founder Stanley Tang will join Also's board as an observer. The collaboration aims to tackle navigation challenges in complex environments like bike lanes, curbs, and road shoulders - areas where autonomous systems still struggle. Also's pedal-by-wire platform provides an ideal foundation for autonomous delivery once the pedal system is removed. DoorDash is already testing its Dot delivery robot while partnering with other autonomous firms including Serve Robotics and Alphabet's Wing. This well-capitalized approach positions Also as a key player in the emerging autonomous micromobility sector.