Rivian Spinoff Also Inc. Hits $1 Billion Valuation After Raising $200 Million: Report

Also Inc., a micromobility company spun off from Rivian Automotive Inc. RIVN, has raised $200 million in funding, taking its post-money valuation to over $1 billion.

What Happened: The company raised $200 million through funding from Greenoaks Capital, according to a Bloomberg report on Tuesday.

Also had previously raised $105 million when it spun off from Rivian, with the automaker retaining a minority stake in the company via its investment, as well as funding from Eclipse Ventures, the report suggests.

The company focuses on micromobility, which includes EVs designed for shorter trips, including all-electric bicycles or e-bikes, among other form factors. However, the company hasn’t revealed any designs yet.

Why It Matters: The news comes as Rivian delivered 10,661 units in Q2 2025, as the company released its quarterly deliveries and production reports. Rivian also reaffirmed the yearly delivery guidance of 40-46k vehicles.

Rivian is also expanding its partnership with Volkswagen Group VWAGY, which is broadly valued at $5.8 billion, to accelerate the development of EV platforms and software.

BNP Paribas thinks Rivian could benefit from U.S. President Donald Trump's tax bill as legacy automakers could scale back on EV ambitions, leaving more market share to capitalize on.

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