Also Inc., a micromobility startup that spun out of Rivian in 2024, has raised US$200 million in funding from Greenoaks Capital.

This investment increases the company’s valuation to US$1 billion.

Earlier in 2025, Also secured US$105 million from Eclipse Ventures during its separation from Rivian.

The startup began in 2022 as an internal project at Rivian, known as Project Inder.

This initiative aimed to develop an e-bike with support from LoveFrom, the design firm led by former Apple designer Jony Ive.

Now operating independently, Also plans to create a variety of micromobility vehicles.

🔗 Source: TechCrunch

🧠 Food for thought

1️⃣ Micromobility investments accelerating amid massive market growth

Also Inc.’s billion-dollar valuation reflects broader momentum in the micromobility sector, which is projected to grow by $28.3 billion between 2025-2029, representing a 10.4% compound annual growth rate 1.

The substantial funding ($200M from Greenoaks Capital following $105M from Eclipse Ventures) demonstrates investor confidence despite historical hesitancy in the micromobility space, where investors have typically required clear consumer demand and supportive government policies 2.

This investment pattern diverges from typical micromobility funding challenges identified by MIT’s Mobility Initiative research, suggesting that Rivian’s brand association may be providing Also Inc. with advantages unavailable to most startups in this space.

The capital injection positions Also Inc. to compete in a fragmented market where battery technology innovations and connected vehicle features are increasingly important differentiators for consumer adoption 1.

2️⃣ E-bikes represent an untapped opportunity for emissions reduction

Also Inc.’s focus on e-bikes addresses a significant environmental opportunity, as transportation accounts for 29% of US greenhouse gas emissions, with personal vehicles being a major contributor 2.

Research shows the average e-bike user currently replaces only 35% of their car trips with e-bike usage, indicating substantial room for growth in adoption and usage patterns that could further reduce emissions 2.