Also, Inc., the tech mobility spin-off associated with electric truck maker Rivian, has secured a “significant investment” from Greenoaks Capital Partners, valuing the company at $1 billion. The company said the funding will “help accelerate Also’s path to creating the world’s leading micromobility products and technology.”
“We couldn’t be more excited about the partnership with, and conviction from, the entire Greenoaks team,” Also, Inc. said in a LinkedIn post. “Together with existing partners, Eclipse [Ventures] and Rivian, we are incredibly well-positioned to deliver positive impact in the rapidly growing global micromobility space.”
Rivian spun off its e-bike/micromobility skunkworks project into the new company earlier this year with the help of $105 million in funding from Eclipse Ventures.
Also, Inc., led by company President Chris Yu, the former executive of Specialized bike components, has been leading the skunkworks team for the last few years after joining Rivian in January 2022.
Image courtesy AIinvest
