Rivian spinoff Also valued at $1 billion with DoorDash partnership

VoM News Desk | March 31, 2026 | 11:12 PM IST | Breaking News, Business | Follow on Google News

Rivian spinoff Also valued at $1 billion with DoorDash partnership

March 31 (Reuters) – Rivian spinoff Also was valued at $1 billion as part of a new strategic ​partnership and investment from food ‌delivery firm DoorDash (DASH.O), opens new tab, the companies said on Tuesday.

Also raised $200 million in a Series C round ​from DoorDash, Prysm Capital and ​Greenoaks. The startup signed a multi-year agreement ⁠focused on deploying small autonomous EVs ​for deliveries.

Stanley Tang, co-founder of DoorDash ​and head of DoorDash Labs, will join the company as a board observer.

Also, originally incubated within ​EV maker Rivian (RIVN.O), opens new tab, is developing a ​range of small EVs for both goods and passenger movement. ‌Its ⁠first products include the TM-B electric bike and the TM-Q electric delivery quad.

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DoorDash said the investment aligns with its ​push to ​expand autonomous ⁠delivery capabilities. Tang said it could help improve efficiency and ​reliability.

The funding will support Also’s ​product ⁠development, manufacturing scale-up and international expansion. The company plans to launch its initial ⁠vehicles ​in the United States ​this year, with global markets to follow.

VoM News Desk

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