Rivian-Backed Startup Achieves Unicorn Valuation Following $200 Million Funding Round

A startup named Also Inc., backed by Rivian Automotive Inc., has recently reached a valuation of $1 billion following a significant investment of $200 million from Greenoaks Capital. This facts comes from sources who prefer to remain anonymous due to the private nature of the details.

This new venture was spun off from Rivian with an initial funding round that included $105 million, where Rivian kept a minority stake alongside contributions from Eclipse. Unlike its parent company that focuses on larger electric vehicles for consumers, Also positions itself as a “micromobility” entity aimed at creating compact vehicles ideal for short-distance travel.

no comments have been received yet from representatives of Rivian, Also, Eclipse, or Greenoaks regarding this progress.

While specifics about their upcoming vehicle lineup are still under wraps, Also has indicated that its technology will extend beyond just cars; it plans to cater to e-bikes and various three- and four-wheeled options designed for neighborhood use and micro-mobility solutions.

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