Rivian Bike Spinoff Lands $1 Billion Valuation, Partners with DoorDash

New electric bike company Also secures major funding and delivery deal.

Mar. 31, 2026 at 4:45pm

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A sleek, metallic electric bicycle frame in a bold, primary color against a clean, monochromatic background, using dramatic studio lighting and deep shadows to represent the premium design and innovation of the new Also electric bike.Rivian's electric bike spinoff, Also, secures major funding and a partnership with DoorDash, signaling the growing demand for sustainable last-mile delivery solutions.Palo Alto Today

Rivian, the electric vehicle startup, has spun off its electric bicycle division into a new company called Also. The new venture has secured $200 million in financing, giving it a valuation of $1 billion. Also has also announced a partnership with delivery service DoorDash to provide electric bikes for its fleet.

Why it matters

This deal represents a significant milestone for Rivian as it looks to diversify beyond its core electric vehicle business. The electric bike market is rapidly growing, and a well-funded spinoff with a major delivery partnership could position Also as a leader in the space. The partnership with DoorDash also highlights the increasing demand for sustainable last-mile delivery solutions.

The details

Also, the electric bike company spun out of Rivian, raised $200 million in its latest funding round, giving it a valuation of $1 billion. The company also announced a partnership with DoorDash to provide electric bikes for the delivery service's fleet. This deal will see Also's bikes used by DoorDash couriers for deliveries in select markets.

  • Also was spun out of Rivian in early 2026.
  • The $200 million funding round closed on March 31, 2026.

The players

Also

A new electric bike company spun out of electric vehicle startup Rivian.

Rivian

An electric vehicle startup that has spun off its electric bicycle division into the new company Also.

DoorDash

A major food delivery service that has partnered with Also to provide electric bikes for its delivery fleet.

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What they’re saying

“This partnership with DoorDash is a major milestone for Also as we look to bring our high-performance electric bikes to the masses through sustainable last-mile delivery.”

— James Chen, CEO, Also

What’s next

Also plans to expand its electric bike offerings and partnerships with other delivery services in the coming year as it looks to solidify its position in the growing e-bike market.

The takeaway

Rivian's spinoff of its electric bike division into the new company Also, combined with the $1 billion valuation and major partnership with DoorDash, demonstrates the significant growth potential in the electric bike market as companies look to provide more sustainable last-mile delivery solutions.