Rivian spinoff Also raises another $200M to build e-bikes and more

Additionally Inc., the micromobility startup spun out of Rivian earlier this 12 months, has raised $200 million from Greenoaks Capital, based on a new report from Bloomberg News.

The funding spherical brings Additionally’s post-money valuation to $1 billion. The startup raised $105 million from Eclipse Ventures earlier this 12 months when it was cleaved from Rivian.

Additionally began as a skunkworks staff inside Rivian in 2022 often known as Mission Inder, as TechCrunch previously reported. The staff began engaged on an e-bike and even tapped famed Apple designer Jony Ive’s agency LoveFrom to help with the project.

Now established as its personal firm, Additionally plans to make micro-EVs of all sizes and shapes, and is meant to disclose the primary designs in some unspecified time in the future later this 12 months.

Rivian and Additionally couldn’t be reached for remark. TechCrunch will replace the article if the businesses reply.