Consumer Tech

Rivian Bike Spinoff Lands $1 Billion Valuation, DoorDash Partnership

An Also TM-B electric bike at the company’s headquarters in Palo Alto, California.Photographer: Jason Henry/Bloomberg

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By Edward Ludlow

March 31, 2026 at 1:00 PM UTC

Also, an electric bike and transportation startup spun out of Rivian Automotive Inc., has reached a $1 billion valuation in a new funding round, and has struck a partnership with DoorDash Inc. to work on autonomous deliveries.

The financing brought in $200 million for Palo Alto, California-based Also and was led by existing investor Greenoaks Capital. Other backers included Prysm and DoorDash, the company plans to announce Tuesday.