Small electric vehicles are getting the autonomous driving treatment. Also, the company Rivian spun out in March 2025, raised $150M in a Series D to put self-driving technology across several compact vehicle formats.
Prysm Capital led the round, joined by Eclipse Ventures, Greenoaks Capital Partners and MVP Ventures. Prysm was an early Rivian backer and had already invested in Also.
Also has now collected $455M since its $105M start. Its first product, the TM-B pedal-assist two-wheeler, reached customers this summer with a five-inch display and no mechanical link between pedals and the rear wheel.
Commercial vehicles are the volume play. The TM-Q quad carries more than 400 pounds, fits in bike lanes, and Amazon has agreed to buy thousands.
Co-founder and president Chris Yu, who ran future programs at Rivian, said the fresh capital will fund multiple self-driving formats built on the shared electric architecture.
Founder RJ Scaringe is spinning up other bets too: Mind Robotics, his industrial robotics company, raised $400M in May.
