Rivian Spin-off also raises another $ 200 million to build electronic bicycles and more

Also Inc., the micromobilility startup left Rivian earlier this year, has raised $ 200 million capital, according to a New Bloomberg News report.

The financing round also carries the value after money at $ 1 billion. The startup raised $ 105 million eclipse ventures earlier this year when it was split by Rivian.

It also began as a skunkWorks team within Rivian in 2022 known as Project Ins, as TechCrunch reported previously. The team began working on an electronic bicycle and even took advantage of the firm love of the famous Apple designer, Jony Ive, from helping with the project.

Now established as its own company, it also plans Micro-EV of all shapes and sizes, and it is supposed to reveal the first designs at some point at the end of this year.

Rivian and could not be contacted to comment. Techcrunch will update the article if companies respond.