Also, an engineering startup that spun out from electric vehicle (EV) maker Rivian, has successfully secured $150 million in funding. The company was founded primarily by former executives and engineers who previously worked on manufacturing processes and engineering at Rivian.
Also's core technology is built upon the advanced EV design and manufacturing expertise cultivated at Rivian. Rather than focusing solely on automobile manufacturing, the company aims to provide solutions that maximize production efficiency across the entire automotive industry and establish next-generation automated manufacturing processes. Their key strength lies in optimizing complex manufacturing floor challenges from an engineering perspective.
The newly raised capital is expected to be allocated toward accelerating technological development and expanding their suite of solutions. In the increasingly competitive EV market and automotive manufacturing industry, the company is growing in prominence as a partner for building scalable and efficient production systems.
Specific details regarding the investors participating in this funding round have not been disclosed at this time.