Also Inc., a micromobility startup spun out of Rivian, has raised $200 million from Greenoaks Capital, bringing its post-money valuation to $1 billion.
The startup was previously known as Project Inder, a skunkworks team inside Rivian in 2022, focusing on e-bikes and working with renowned designer Jony Ive’s firm LoveFrom.
Established as its own company, Also plans to create micro-EVs of various types, with the first designs expected to be unveiled later this year.
Rivian and Also were unreachable for comment at the time of reporting. TechCrunch will update if they respond.