Rivian Spinout Also Raises $150M for Autonomous Delivery

Micromobility startup Also secures $150 million in a new Series D funding round to accelerate its rapid expansion into the competitive autonomous delivery vehicle market. The substantial capital injection, led by Prysm Capital alongside existing investors Eclipse, Greenoaks, and MVP Ventures, propels the company's total funding to an impressive $455 million in less than two years since its inception. This fresh financial boost enables the young firm to transition from its initial focus on electric bicycles and commercial cargo quads toward advanced self-driving technology.

The newly acquired capital will directly fund the simultaneous development of multiple autonomous vehicle designs, all utilizing the same core electric architecture found in the startup's consumer e-bikes and commercial delivery quads. This funding round closely follows a massive $200 million raise completed just months ago, which featured a strategic investment from food delivery giant DoorDash. That previous agreement establishes a multi-year commercial partnership to design and deploy self-driving delivery robots, cementing the startup's shift toward automated logistics.

Also originally began as a secret skunkworks project within electric vehicle manufacturer Rivian, born from a passion for alternative micromobility solutions. The specialized engineering team—composed of industry veterans recruited from Apple, Google, Specialized, and Tesla—officially spun out as an independent entity in 2025 with $150 million in seed capital. Despite its independence, the startup maintains deep ties to its parent company; Rivian retains a minority stake, and its chief executive officer serves on the startup's board of directors, allowing the younger company to leverage Rivian's retail footprint and manufacturing scale.

Financial backers view the startup's vertically integrated approach to small-format electric vehicles as a direct parallel to the early development of full-sized electric trucks and sport utility vehicles. Meanwhile, the company is actively rolling out its initial product lineup, which includes the high-end TM-B electric bicycle priced at $4,500 and two commercial quad vehicles. Notably, one of these heavy-duty quads is slated for deployment within Amazon's massive delivery network, showcasing immediate commercial utility and enterprise interest.

This aggressive expansion comes at a critical juncture as the company overcomes early manufacturing hurdles. Production delays previously stalled the release of the flagship e-bike, but the launch edition is now finally shipping to eager customers. By opening pre-orders and configuration access for its standard and performance models, the company is proving its ability to scale manufacturing while simultaneously pivoting toward high-tech autonomous solutions that could redefine urban logistics.

Looking ahead, the company plans to begin initial deliveries of its broader e-bike lineup this fall. As these consumer products hit the streets, the engineering team will focus heavily on perfecting the self-driving software and hardware integrations required for its autonomous fleet. The successful deployment of these diverse electric form factors promises to reshape the future of last-mile delivery, turning a former skunkworks project into a dominant force in autonomous urban transportation.

Originally reported by TechCrunch