Also raises $200M in Series C

Also, a Palo Alto-based company specializing in small electric vehicles for micromobility, has secured $200 million in a Series C funding round. This capital infusion is significant as it underlines investor confidence in the burgeoning micromobility sector, where electric bikes and similar vehicles are seen as increasingly critical to urban transportation solutions.

The funding round saw participation from a group of investors including DoorDash, Greenoaks, and Prysm Capital. With this latest investment, Also's total equity funding stands at $505 million. The company's product line features modular electric bikes aimed at urban commuters seeking efficient, environmentally conscious transportation options. Founded by Chris Yu in 2025, Also is positioning itself as a significant player in the sustainable transportation market.

Strategically, this funding will enable Also to expand its production capabilities and strengthen its market presence in the wake of growing demand for eco-friendly transport solutions. The company’s focus on modular electric vehicles aligns well with current urban planning trends that prioritize reducing carbon emissions and easing traffic congestion. Such an offering not only appeals to individual customers but also holds potential for partnerships with cities seeking sustainable transit solutions.

In the broader market context, Also's sizable funding round highlights increasing investor appetite within the electric vehicle sector, especially for niche applications in micromobility. As major automotive manufacturers and technology firms alike pivot towards electric and sustainable solutions, players like Also may benefit from both heightened consumer interest and potential B2B partnerships. The financial backing from notable institutions like DoorDash further may suggest synergies in urban delivery services, where micromobility plays a critical role.

Looking ahead, the primary focus for Also will be executing its strategic growth plans effectively to capitalize on the urban micromobility trend. With strong financial backing, the company is well-positioned to navigate regulatory landscapes and potential competition. How it leverages this funding to maintain momentum will be crucial in a rapidly evolving market characterized by constant technological advances and shifting consumer expectations.