Analysis
Also, the micromobility startup Rivian spun out last year, has raised another $150 million as it expands beyond pedal-assist electric bikes and commercial cargo quads into autonomous delivery vehicles. The round brings Also's total funding since its 2025 spinout past $500 million, with Rivian retaining a minority stake and board presence.
Pulse has covered Rivian's broader push into autonomy before; Also was created when Rivian carved out its micromobility division into a standalone company, giving Rivian a way to pursue smaller, lower-margin vehicle categories without diluting its core EV truck and SUV business. The bet is that the same battery, motor and software expertise Rivian built for full-size vehicles translates into a defensible position in e-bikes, cargo quads and now last-mile delivery robots -- categories where Rivian's larger vehicle platforms don't compete directly.
“Investors underwriting this round are betting on Also's hardware pedigree closing that gap faster than either incumbent has managed so far.”
The move into autonomous delivery puts Also up against a crowded field: Amazon's Scout and newly expanded Prime Air drone network, Nuro's road-legal delivery pods, Serve Robotics' sidewalk robots, and Chinese players like Meituan's delivery drones. Also's differentiation is coming from the vehicle-platform side rather than the software side -- leaning on Rivian-derived hardware rather than building an autonomy stack from scratch, which likely means partnering for the self-driving software itself rather than developing it in-house.
Rivian's own stock has been under pressure this year as EV demand growth slows industry-wide, making the Also spinout look increasingly like a hedge: a way to capture upside in adjacent categories without Rivian's balance sheet absorbing the R&D risk directly. Also has not disclosed revenue or unit economics for its expanded delivery push, and autonomous delivery remains an unproven category at scale -- Nuro and Serve have both been operating for years without reaching profitability, which is the clearest read on how long this bet may take to pay off. Investors underwriting this round are betting on Also's hardware pedigree closing that gap faster than either incumbent has managed so far.
