Rivian Spinoff Also Raises $200M at $1B Valuation, Partners with DoorDash for Micromobility Delivery

Also, a micromobility delivery startup spun out of Rivian, has raised $200 million led by Greenoaks at a $1 billion valuation. The company has also entered a multiyear partnership with DoorDash to power last-mile delivery using electric bikes and small vehicles.

The Rivian Connection

Also was founded by former Rivian engineers who saw an opportunity in urban delivery that didn’t require full-size electric trucks. While Rivian targets suburban and commercial EV markets, Also focuses on the last-mile delivery problem — getting packages, food, and groceries to customers in dense urban environments where cars and trucks are slow, expensive, and often unnecessary.

The DoorDash Partnership

The multiyear DoorDash partnership is the anchor deal that justifies the $1B valuation. DoorDash handles millions of deliveries daily, and shifting even a fraction of those to electric micromobility vehicles could significantly reduce delivery costs and carbon emissions in urban areas.

The Bottom Line

A Rivian spinoff hitting a $1B valuation with electric delivery bikes proves that the EV opportunity extends far beyond cars. The real money in urban logistics might not be in bigger, smarter trucks — it might be in smaller, simpler vehicles that can navigate city streets faster and cheaper than anything with four wheels.