ALSO Raises $150 Million Series D

PALO ALTO &&num;8212&semi; ALSO, a technology company building driven and autonomous small electric vehicles, has closed a &dollar;150 million Series D financing round&period; The round was led by Prysm Capital, with participation from Eclipse, Greenoaks and MVP Ventures&period;&NewLine;The round reflects confidence in ALSO&&num;8217&semi;s unique product and technology roadmap, execution, 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, TM-B, and commercial electric delivery quad, TM-Q&period;&NewLine;&OpenCurlyDoubleQuote;Whether a vehicle is driven or autonomous, 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, 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,&&num;8221&semi; said Chris Yu, Co-Founder and President of ALSO&period;&NewLine;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, the company recently opened pre-order and configuration access for TM-B Performance and Standard models, with initial deliveries beginning this fall&period;&NewLine;Earlier this year, ALSO closed a &dollar;200 million Series C financing round led by Greenoaks, with participation from Prysm Capital and a strategic investment from DoorDash&period; Alongside that round, ALSO and DoorDash entered a multi-year commercial agreement to collaboratively develop and deploy autonomous delivery vehicles at scale&period;&NewLine;&&num;8220&semi;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&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, Chris and their world-class team, especially now as ALSO accelerates into autonomous applications&period;”&NewLine;

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