ALSO announces $150 million Series D financing

We're thrilled to share that ALSO has closed a $150 million Series D financing round, led by Prysm Capital, with participation from Eclipse Capital, Greenoaks and MVP Ventures.

This round is a vote of confidence in our product and technology roadmap, our execution, and our commercial partnerships with world-class operators like Amazon and DoorDash. The new capital will accelerate development of our autonomous vehicle platform, letting us push forward multiple autonomous form factors at once — for moving both goods and people through urban environments. These vehicles will build on the same EV architecture we've already developed for TM-B, our consumer electric bike, and TM-Q, our commercial electric delivery quad.

Solving congestion, whether driven or autonomous.

Our co-founder and president, Chris Yu, said it best, “Whether a vehicle is driven or autonomous, the need to solve for congestion and cost per trip doesn't change. This is exactly why we started ALSO — to deliver well designed, intelligent small vehicles better suited for today's urban and suburban centers. I am thrilled by the incredible support of our partners and our ability to fast track the development of our autonomous vehicle platform.” 

TM-B is on the road.

Our TM-B Launch Edition e-bike has started shipping to customers across the U.S. We've also opened pre-order and configuration access for the TM-B Performance and Standard models, with initial deliveries beginning this fall.

Building on our Series C.

This round follows our $200 million Series C financing, closed earlier this year and led by Greenoaks, with participation from Prysm Capital and a strategic investment from DoorDash. Alongside that round, ALSO and DoorDash entered a multi-year commercial agreement to collaboratively develop and deploy autonomous delivery vehicles at scale.

"We backed Rivian early because we saw the potential behind wonderfully designed, vertically integrated electric trucks, vans and SUVs," said Jay Park, Co-Founder and Managing Partner at Prysm Capital. "ALSO is applying that same approach to smaller form factor vehicles to address the demands of commercial operators and consumers today. We're thrilled to partner with RJ, Chris, and their world-class team, especially now as ALSO accelerates into autonomous applications."

With this new capital, we're accelerating toward a future with less congestion, lower costs, and lower emissions — and we're grateful to Prysm Capital, Eclipse Capital, Greenoaks, MVP Ventures, and everyone along for the ride.