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Rivian spinoff Also valued at $1 billion with DoorDash partnership

ReutersMar 31, 2026 5:10 PM

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, 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, 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.
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.

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