Electric vehicle startup ALSO has raised $200 million in a Series C round, led by Greenoaks Capital, with participation from Prysm Capital, valuing the company at more than $1 billion. The deal marks ALSO’s entry into unicorn status and deepens its push into urban‑scale, autonomous‑capable delivery.
Alongside the funding, ALSO has signed a multi‑year, multi‑vehicle commercial agreement with DoorDash to develop and deploy autonomous delivery vehicles at scale. The partnership is structured as both a strategic investment and a vehicle‑deployment roadmap, with DoorDash integrating ALSO’s small EVs into its last‑mile delivery network over time.
ALSO spun out of Rivian in 2025 and is led by a team with deep EV and micromobility expertise. The company was co‑founded by Chris Yu, who serves as President, and a broader Rivian‑trained engineering and operations leadership group focused on compact, high‑efficiency vehicles for dense environments.
The core thesis is that traditional delivery vehicles, from full‑sized vans to conventional EVs, struggle in the “in‑between” spaces of last‑mile logistics: bike lanes, curbs, and narrow road‑adjacent zones where full‑sized autonomous vehicles are impractical. ALSO’s platform is designed to fill that gap with small, electric, and autonomous‑ready urban vehicles that can move efficiently where larger fleets cannot.
ALSO designs small electric vehicles tailored for dense urban environments, including bike lanes, curbsides, and “in‑between” spaces between sidewalks and standard traffic lanes. The company’s current lineup includes the TM‑B, an e‑bike‑scale platform with a virtual drivetrain priced around $3,500, and the TM‑Q, a four‑wheeled cargo EV built to carry goods while still fitting inside a bike lane.
Unlike Canyon, Nimble, and DHL StreetScooter, ALSO is known for its “Rivian‑born” small‑EV architecture and a clear focus on autonomous‑ready, lane‑scaled vehicles rather than just scooters or sidewalk robots.
The company is betting that the next phase of last‑mile efficiency will come from small, road‑capable EVs that fit in existing urban infrastructure, rather than repurposing full‑sized vans or retrofitting sidewalks for robots.
