Rivian spinoff Additionally raises one other $200M to construct e-bikes and extra

Additionally Inc., the micromobility startup spun out of Rivian earlier this 12 months, has raised $200 million from Greenoaks Capital, based on a brand 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 12 months when it was cleaved from Rivian.

Additionally began as a skunkworks group inside Rivian in 2022 referred to as Challenge 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 mission.

Now established as its personal firm, Additionally plans to make micro-EVs of all styles and sizes, 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.