ALSO Announces $150 Million Series D Financing

ALSO, introducing transcendent mobility, led by Chris Yu and the team, has closed a $150 million Series D financing round, led by Prysm Capital, with participation from Eclipse Capital, Greenoaks, and MVP Ventures.

The funding reflects confidence in the company’s product, technology roadmap, execution, and partnerships with operators including Amazon and DoorDash. The new capital will accelerate development of its autonomous vehicle platform across multiple form factors for transporting people and goods in urban environments. These vehicles will build on the EV architecture developed for TM-B, its consumer electric bike, and TM-Q, its commercial electric delivery quad.

Tackling Congestion and Cost.

ALSO co-founder and president Chris Yu said the company is focused on addressing congestion and cost per trip regardless of whether vehicles are driven or autonomous. The company is developing smaller, intelligent vehicles designed for urban and suburban environments, while accelerating its autonomous vehicle platform.

TM-B Deliveries Begin.

ALSO has started shipping its TM-B Launch Edition e-bike to customers across the U.S. Pre-orders and configurations are also open for the TM-B Performance and Standard models, with initial deliveries expected to begin this fall.

Building on the Series C.

The new round follows ALSO’s $200 million Series C, led by Greenoaks with participation from Prysm Capital and a strategic investment from DoorDash. The Series C also included a multi-year commercial agreement between ALSO and DoorDash to jointly develop and deploy autonomous delivery vehicles at scale.

Prysm Capital Co-Founder and Managing Partner Jay Park said ALSO is applying the vertically integrated approach used in larger electric vehicles to smaller form factors, targeting the needs of commercial operators and consumers. The new funding will accelerate ALSO’s autonomous vehicle development and its goal of reducing congestion, costs, and emissions.

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