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

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