Startup Backed by Rivian Secures $105M to Roll Out Budget-Friendly Micro Vehicles

Startup Backed by Rivian Secures $105M to Roll Out Budget-Friendly Micro Vehicles

Rivian, the high-profile electric vehicle manufacturer, has just launched a new company focused on micromobility, spun off from a secret group of internal innovators. Also called, the startup secured $105 million from Eclipse Ventures to address electrified travel in smaller form factors.

President Chris Yu, who was previously the VP of future programs at Rivian, states that the company intends to leverage the Rivian handbook—which combines robust customer insights, state-of-the-art design, and vertically integrated technology—for smaller vehicles.

“That just hasn’t happened for anything smaller than a car yet,” Yu says. “Our entire premise is using that same ingredient set and creating really, really compelling, fun, inspiring vehicles that are much smaller than a car.”

Micromobility typically encompasses smaller, lightweight vehicles like e-bikes, scooters, three-wheelers, and motorcycles. While Also has not revealed the specifics of its inaugural product, Rivian CEO and founder RJ Scaringe—who is a board member of Also—hinted to TechCrunch that “there’s a seat, and there’s two wheels, there’s a screen, and there’s a few computers and a battery.”

It also intends to present its first designs later this year, with a consumer product debuting in 2026, starting in the U.S. and then moving to Europe. Throughout that year and into the next, it will introduce products for both consumer and commercial use in Asia and South America.

With the $105 million investment from Eclipse, Also aims to develop a technology platform that can accommodate various small mobility form factors for consumer and commercial products globally. Yu adds that the investment will ensure that Also can provide customers with a “delightful experience” through its retail network and services.

The value proposition is central to Also’s mission. Scaringe spoke to TechCrunch regarding the premium costs linked to high-end e-bikes, stating, “you can spend $6,000 to $8,000 on, and really nice ones, over $10,000. This illustrates a supply chain that is underdeveloped and has many levels.

Yu agrees. “Beyond the strict cost number, it has to click in terms of what you’re getting from a value proposition out of the vehicle, and the experiences you’ll get out of it, and the price that you’re paying,” he says. “RJ’s point has been, historically within these modes, that the price to value proposition has been really skewed compared to, say, a Rivian car.”

One of the ways Also aims to develop products that are economical is by means of vertical integration. Will also be responsible for the engineering and design of intellectual property, but intends to collaborate with global manufacturers capable of large-scale production of its products. It intends to utilize certain foundational elements and the basic architecture developed at Rivian, but for smaller mobility solutions. Yu states that this entails optimizing technologies such as battery packs, battery management systems, power control electronics, and others for smaller form factors. Yu states that products could also be showcased in Rivian retail locations within logical markets.

With the aim of improving accessibility and alleviating the congestion and environmental damage associated with short trips made by full-sized vehicles, Scaringe has long been focused on electrifying the micromobility sector. As reported by TechCrunch, serious discussions regarding an internal initiative began in 2019. In 2022, Yu came to Rivian from Specialized, a manufacturer of bicycles and e-bikes, to assist in expanding the covert group of creators and actualizing the larger vision.

“What we are really excited about is to play a part in accelerating and catalyzing this shift, both in the multimodal fabric [of micromobility], as well as electrification of existing small modes, and doing it in much the same way as Rivian has done, which is creating a product that is so incredibly inspiring that people say yes to adopting and it just happens to be electric,” says Yu.