Also has raised another $150 million as the micromobility startup that spun out of Rivian last year expands its business beyond pedal-assist electric bikes and commercial cargo quads to autonomous delivery vehicles.

The Series D round was led by Prysm Capital and included existing backers Eclipse, Greenoaks, and MVP Ventures. Also has raised $455 million since its founding less than two years ago.

The new capital will be used to “accelerate the development” of the company’s autonomous driving technology and the “simultaneous progression of multiple autonomous form factors,” according to the company. These future vehicles will use the same electric architecture developed for its consumer electric pedal-assist bike and commercial electric delivery quad.

Prysm Capital co-founder and managing partner Jay Park said the firm is backing Also for the same reason it was an early investor in Rivian.

“We backed Rivian early because we saw the potential behind wonderfully designed, vertically integrated electric trucks, vans and SUVs,” Park said, adding that Also us applying that same approach to smaller form factor vehicles.

The fresh funding comes a few months since Also raised $200 million in a round led by Greenoaks, with participation from Prysm Capital and a strategic investment from DoorDash. As part of that funding round, DoorDash struck a multi-year commercial agreement to develop and deploy autonomous delivery vehicles.

While Also is increasingly focused on autonomous vehicle tech, that’s not where it started. Also began as a skunkworks project within Rivian, a pursuit driven by founder and CEO RJ Scaringe’s interest in micromobility. That team, which pulled in people from Apple, Google, Specialized, Tesla, evolved into a startup, which spun out of Rivian in 2025 armed with the name Also and $150 million in funding.

While Also is independent, Rivian is still very much tied to it. Rivian holds a minority stake, and Scaringe serves on its board. Also has previously said it will leverage the automaker’s tech, retail presence, and economies of scale as it grows.

Last October, Also revealed its first products, a $4,500 two-wheeler called the TM-B and two quad vehicles as well, one of which will be supplied to Amazon.

Also has struggled to get its ebike into customers’ hands and its launch edition was delayed for months. The company said the Launch edition is now beginning to ship to customers and has opened up the pre-order and configuration access to its performance and standard models. The company said initial deliveries of these other models will begin in fall.

Amazon announced Wednesday a major expansion of Amazon Prime Air, its drone delivery service, with plans to reach nearly 500 U.S. cities by the end of 2026. This marks a significant milestone as it expands the service’s footprint by roughly six times its current reach. 

Prime Air will soon launch in 11 locations: Tolleson, Arizona; Ruskin, Florida; Kansas City, Kansas; Papillion, Nebraska; Baton Rouge, Louisiana; Hazel Park and Pontiac, Michigan; and Richmond, San Antonio, Richardson, and Waco, Texas.

The return to Tolleson is particularly notable given a drone accident that occurred there last year. In October 2025, two drones collided with the boom of a crane. Amazon’s drones have also previously drawn scrutiny following incidents involving clipping an internet cable, and crashing into a garden and an apartment building.

This is likely why Amazon reiterated its focus on safety as part of the announcement. The company highlighted Prime Air’s “industry-leading Detect-and-Avoid system,” which is designed to continuously monitor the airspace and surroundings of each drone. The drones also rely on onboard cameras and sensors for navigation, obstacle detection, and delivery. Plus, Amazon said the drones are designed to operate in real-world conditions, including light rain and a range of temperatures. 

Additionally, Prime Air operates under Federal Aviation Administration Part 135 certification, the same regulatory framework used by commercial air carriers.

“Customers already turn to Amazon for fast Same- and Next-Day Delivery, and Prime Air provides them an even speedier option when they need it, with deliveries in as fast as 30 minutes,” David Carbon, vice president of Amazon Prime Air, said in a statement, adding that the service has “already delivered hundreds of thousands of packages to customers by drone this year.”

The service currently operates across seven states, including Arizona, Florida, Kansas, Louisiana, Michigan, Nebraska, and Texas. Amazon says launches in Georgia, Ohio, Illinois, Idaho, and New York are also coming soon.

Prime members receive free ultrafast drone delivery on eligible orders of $50 or more. For Prime members placing eligible orders under $50, the delivery fee is $2.99. Non-Prime customers pay a $4.99 delivery fee. Nearly all items 5 pounds or less can be delivered by drone.

Amazon’s push comes as other major companies continue building their own drone delivery networks. Walmart and Google parent Alphabet’s Wing have been expanding a competing drone delivery operation, which the companies have described as the largest drone delivery network in the U.S. In June, the companies added seven new markets, including Phoenix, Philadelphia, and the Bay Area.

Indian fintech Navi has raised $100 million from Prosus, marking the first institutional funding for the eight-year-old startup founded by Flipkart co-founder Sachin Bansal (pictured above).

The investment values Navi at about $1.3 billion, according to people familiar with the matter. It comes after the Bengaluru-based startup sought to raise external capital from institutional investors at a valuation of about $2 billion in 2024.

Bansal founded Navi in 2018 after leaving Flipkart following its sale to Walmart. The fintech provides a range of financial services, including digital payments, lending, insurance, and mutual funds.

The investment, subject to customary closing conditions and regulatory approvals, comes as Navi is reportedly preparing to go public and raise ₹30 billion (about $314 million) in an initial public offering. Originally, the startup had filed for a $440 million IPO in 2022 but abandoned the plan the following year as the IPO market slumped.

Bansal had co-founded Flipkart with Binny Bansal in 2007 and helped turn the online bookseller into India’s leading e-commerce company. He left Flipkart and sold his stake in 2018 shortly before Walmart closed the $16 billion deal to acquire a majority stake in the firm. Following his Flipkart exit, Bansal started Navi and even poured hundreds of millions of dollars of his own money into the venture, which he has sought to eventually build into a bank.

In the financial year ended March 2026, Navi reported that it generated ₹30.91 billion (about $323.33 million), while its net loss grew to ₹4.66 billion (around $48.74 million).

Navi’s app, which offers digital payments through the Indian government-backed system Unified Payments Interface, is the country’s fourth-largest UPI app, behind Walmart-owned PhonePe, Google Pay, and Paytm. The app processed over 947 million transactions valued at ₹483.18 billion (about $5.05 billion) in July, per the data available on the National Payments Corporation of India (NPCI) website.

Navi Finserv, its lending arm, has more than ₹130 billion (about $1.4 billion) in assets under management. Moreover, the startup says it serves hundreds of millions of users across India and reached consolidated profitability in Q4 of fiscal 2026.

Bansal said the Prosus investment was a “strong endorsement” of the institution Navi is building, adding that the startup valued the investor’s global perspective and experience scaling technology businesses. He did not respond to a request for comment on the valuation.