ALSO Raises $150 Million Series D

<p><strong>PALO ALTO<&sol;strong> &&num;8212&semi; ALSO&comma; a technology company building driven and autonomous small electric vehicles&comma; has closed a &dollar;150 million Series D financing round&period; The round was led by Prysm Capital&comma; with participation from Eclipse&comma; Greenoaks and MVP Ventures&period;<&sol;p>&NewLine;<p>The round reflects confidence in ALSO&&num;8217&semi;s unique product and technology roadmap&comma; execution&comma; and strong commercial partnerships with world class operators including Amazon and DoorDash&period; New capital will support accelerating the development of ALSO&&num;8217&semi;s autonomous vehicle platform and the simultaneous progression of multiple autonomous form factors — spanning the movement of both goods and passengers across urban environments&period; These vehicles will leverage much of the existing EV architecture already developed by ALSO for its consumer electric bike&comma; TM-B&comma; and commercial electric delivery quad&comma; TM-Q&period;<&sol;p>&NewLine;<p>&OpenCurlyDoubleQuote;Whether a vehicle is driven or autonomous&comma; the need to solve for congestion and cost per trip doesn’t change&period; This is exactly why we started ALSO &&num;8211&semi; to deliver well designed&comma; intelligent small vehicles better suited for today’s urban and suburban centers&period; I am thrilled by the incredible support of our partners and our ability to fast track the development of our autonomous vehicle platform&comma;&&num;8221&semi; said Chris Yu&comma; Co-Founder and President of ALSO&period;<&sol;p>&NewLine;<p>ALSO&&num;8217&semi;s TM-B Launch Edition electric bike is beginning to ship to customers across the U&period;S&period; In addition&comma; the company recently opened pre-order and configuration access for TM-B Performance and Standard models&comma; with initial deliveries beginning this fall&period;<&sol;p>&NewLine;<p>Earlier this year&comma; ALSO closed a &dollar;200 million Series C financing round led by Greenoaks&comma; with participation from Prysm Capital and a strategic investment from DoorDash&period; Alongside that round&comma; ALSO and DoorDash entered a multi-year commercial agreement to collaboratively develop and deploy autonomous delivery vehicles at scale&period;<&sol;p>&NewLine;<p>&&num;8220&semi;We backed Rivian early because we saw the potential behind wonderfully designed&comma; vertically integrated electric trucks&comma; vans and SUVs&comma;” said Jay Park&comma; Co-Founder and Managing Partner at Prysm Capital&period; &OpenCurlyDoubleQuote;ALSO is applying that same approach to smaller form factor vehicles to address the demands of commercial operators and consumers today&period; We’re thrilled to partner with RJ&comma; Chris and their world-class team&comma; especially now as ALSO accelerates into autonomous applications&period;”<&sol;p>&NewLine;