Additionally Inc., the micromobility startup spun out of Rivian earlier this yr, has raised $200 million from Greenoaks Capital, in accordance with a new report from Bloomberg Information.
The funding spherical brings Additionally’s post-money valuation to $1 billion. The startup raised $105 million from Eclipse Ventures earlier this yr when it was cleaved from Rivian.
Additionally began as a skunkworks group inside Rivian in 2022 referred to as Undertaking Inder, as TechCrunch beforehand reported. The group began engaged on an e-bike and even tapped famed Apple designer Jony Ive’s agency LoveFrom to assist with the challenge.
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 yr.
Rivian and Additionally couldn’t be reached for remark. TechCrunch will replace the article if the businesses reply.