Funding

Electric Mobility Company ALSO Raises $150M in Series D Funding

Aug 20, 2026 | By Devin Jacobs

SUMMARY

ALSO raised $150M in Series D funding.
The funding will support EV and autonomous technology development.
ALSO develops small electric vehicles and mobility platforms.

ALSO, a Palo Alto, CA-based technology company building small electric vehicles, has raised $150 million in a Series D financing round led by Prysm Capital, bringing the total amount to $350 million.

The round also saw participation from Eclipse, Greenoaks, and MVP Ventures.

The company will use the new capital to accelerate the development and commercialization of small electric vehicles, expand its autonomous vehicle platform, and advance multiple autonomous vehicle form factors for consumers and businesses worldwide.

Funding Snapshot

Metric	Details
Fundraise Amount	$150 Million
Funding Stage	Series D
Total Funding	$350 Million
Lead Investor	Prysm Capital
Other Investors	Eclipse, Greenoaks, MVP Ventures
Company	ALSO
Sector	Electric Mobility / Autonomous Vehicles
Headquarters	Palo Alto, California, US

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About ALSO

Founded in 2025 by Chris Yu, ALSO develops small electric vehicles designed to provide more efficient transportation for people and goods.

Originally incubated within Rivian, ALSO combines vertically integrated hardware and software to build purpose specific mobility platforms. Its smaller vehicle architecture is designed for urban transportation, commercial applications and autonomous mobility.

Core offerings include:

Small electric vehicles
Electric bikes
Autonomous vehicle platforms
Purpose built mobility systems
Commercial delivery vehicles

Core Technologies / Products / Services

Capability/Product	Application/Use Case
TM-B Electric Bike	Consumer electric mobility
Autonomous Vehicle Platform	Enables driverless transportation applications
Vertically Integrated Hardware	Supports purpose-built electric vehicles
Mobility Software	Enables intelligent vehicle operations

Leadership Comments

“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," said Chris Yu, Co-Founder and President of ALSO.

"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.