Rivian-Backed Startup Secures $105 Million to Unveil Affordable Micro Vehicles

Rivian, the EV powerhouse known for redefining electric adventure vehicles, has just unveiled its latest innovation—a stealthy spin-off dedicated to micro-mobility. Enter Also, a brand-new startup set to reshape urban transportation through smaller, electrified vehicles. Backed by a hefty $105 million from Eclipse Ventures, the company is primed to tackle the growing demand for compact, efficient mobility solutions.

At the helm of Also is Chris Yu, former VP of Future Programs at Rivian, who brings a wealth of experience in innovation and product strategy. His mission? Apply Rivian’s signature playbook—customer-driven design, vertical integration, and cutting-edge engineering—to an entirely new category of electric vehicles.

“That just hasn’t happened for anything smaller than a car yet,” Yu says. “Our entire premise is using that same ingredient set and creating really, really compelling, fun, inspiring vehicles that are much smaller than a car.”

Micromobility encompasses a diverse range of lightweight, electric-powered transport options—from e-bikes and scooters to three-wheelers and motorcycles. While the company remains tight-lipped about its first offering, Rivian’s CEO RJ Scaringe, who also sits on Also’s board, offered a tantalising hint:

“There’s a seat, two wheels, a screen, a few computers, and a battery.”

The mystery product is slated for a 2026 launch in the U.S., followed by Europe, Asia, and South America in the following months.

With $105 million in fresh capital, it isn’t just building vehicles—it’s creating an entire technology platform capable of supporting multiple micro-mobility formats across consumer and commercial sectors. The goal? An ecosystem of efficient, innovative, and sustainable transportation solutions.

A value proposition is core to Also’s mission. Scaringe commented to TechCrunch about the premium pricing of high-end e-bikes, saying, “You can spend $6,000 to $8,000 on, and really nice ones, over $10,000. That’s a reflection of a poorly developed supply chain that’s very, very, very tiered.” 

Yu agrees. “Beyond the strict cost number, it has to click in terms of what you’re getting from a value proposition out of the vehicle, and the experiences you’ll get out of it, and the price that you’re paying,” he says. “RJ’s point has been, historically within these modes, that the price-to-value proposition has been really skewed compared to, say, a Rivian car.”

A key piece of this puzzle is vertical integration. Unlike traditional vehicle startups that rely heavily on third-party suppliers, the company intends to own its core engineering and intellectual property while partnering with global manufacturers for mass production. This hybrid approach allows the company to scale rapidly without massive infrastructure costs, all while leveraging foundational Rivian technology—from battery packs and power electronics to advanced battery management systems.

Also, products could find a home in Rivian retail spaces in select markets, offering a seamless crossover for eco-conscious customers looking for smaller, urban-friendly electric alternatives.

Rivian’s ambition to electrify short-distance transport isn’t a recent development. The company has been eyeing the micro-mobility space since 2019, with internal discussions evolving into a full-fledged initiative. The vision became reality in 2022 when Yu joined the cycling giant Specialized, assembling a covert team of innovators to turn this concept into a scalable business.

“What we are really excited about is to play a part in accelerating and catalysing this shift, both in the multimodal fabric [of micromobility], as well as electrification of existing small modes, and doing it in much the same way as Rivian has done, which is creating a product that is so incredibly inspiring that people say yes to adopting and it just happens to be electric,” says Yu.