IN BRIEF
ALSO, the company born out of Rivian that has been shipping its TM-B electric bike since this summer, announced on 19 August that it had closed a $150 million Series D round led by Prysm Capital. The press release assigns the funds to the company’s autonomous vehicle platform and mentions no funding for the bike range; its subtitle does, however, tie the round to a mission covering small “driven and autonomous” vehicles. That range is moving ahead in parallel, with a Launch Edition currently shipping in the United States and two versions open for pre-order for the autumn. The round comes after a $200 million Series C closed earlier this year.
| Amount raised | $150 million |
| Type of round | Series D |
| Lead investor | Prysm Capital |
| Announcement date | 19 August 2026 |
| Headquarters | Palo Alto, California |
| Previous round | $200 million Series C, led by Greenoaks |
There is a quick reading of the 19 August announcement: the maker of the TM-B, the electric bike that came out of Rivian, is raising $150 million. There is a more accurate one, and it comes from ALSO’s own press release: according to that text, the funds are first meant to accelerate the company’s autonomous vehicle platform.
What ALSO’s round is funding
The text distributed by Business Wire states that “ALSO, a Palo Alto-based technology company building the world’s most capable driven and autonomous small electric vehicles, today announced it has closed a $150 million Series D financing round”, a round led by Prysm Capital. The release specifies that the funds are to support the development of the company’s autonomous vehicle platform and the simultaneous progress of several autonomous formats, for moving goods as well as passengers in urban areas.
The line from Chris Yu, described as “Co-Founder and President”, sums up the intent: “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.” The bike is the first object to come out of ALSO’s in-house architecture: the release specifies that future autonomous vehicles “will leverage much of the existing EV architecture already developed by ALSO for its consumer electric bike, TM-B”.
The TM-B starts shipping
The release does still give an update on the range: “ALSO’s TM-B Launch Edition electric bike is beginning to ship to customers across the U.S. In addition, the company recently opened pre-order and configuration access for TM-B Performance and Standard models, with initial deliveries beginning this fall.” The revised timetable is therefore holding, at least on the US market: ALSO initially targeted spring 2026 before pushing its delivery window back to July, citing supply-chain pressure according to TechCrunch.
ALSO also puts its contracts forward: the round “reflects continued confidence in ALSO’s unique product and technology roadmap, execution, and strong commercial partnerships with world class operators including Amazon and DoorDash”. DoorDash already appeared in the previous round: the release recalls that “earlier this year, ALSO closed a $200 million Series C financing round led by Greenoaks, with participation from Prysm Capital and a strategic investment from DoorDash”.
On the investor’s side, the Rivian lineage is openly claimed. “We backed Rivian early because we saw the potential behind wonderfully designed, vertically integrated electric trucks, vans and SUVs”, says Jay Park, “Co-Founder and Managing Partner at Prysm Capital”. For the bike industry, the question remains open: will a company funded to deliver parcels autonomously keep looking after a consumer bicycle for long?
